TILBURY, Palmdale

In May 2010, Tilbury Partners, LLC an affiliate of TPMC Realty Corporation purchased a residential subdivision in West Palmdale, California.  The 37-acre tract was originally approved for 428 clustered condo and townhome units over 3 phases.  All the public utility infrastructure is stubbed to the site, and all major backbone infrastructure is in place.  Phase I was planned for 151 condo tracts on 12 acres; however, an opportunity exists to build a lower density product composed of 80 detached small-lot homes on Phase I.  Rough grading is complete on Phase II, which is comprised of 25 acres and will be the site of an additional 170 homes.  This is an opportunistic land purchase of existing finished lots and entitled, rough-graded land at a substantial discount to historical values. 

The site is located in West Palmdale, California. Palmdale has experienced significant foreclosures within the last 18 months.  However, as prices have plummeted and mortgage rates have reached historic lows, significant demand for single family homes in this area of Palmdale has been created.  In recent months, the housing market has heated up significantly.  National and local home builders are becoming very active again.

The property is located within the well desired planned community of Rancho Vista approximately 3 miles west of the freeway (State Highway 14).  A neighborhood shopping center anchored by a Vons and Rite Aid is directly across the street to the East and a new regional sports park is located within walking distance.  The property is also a few minutes from the Antelope Valley Mall, the major regional shopping center that serves the entire Antelope Valley.

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