Williams Homes Closes on 39 Single Family Detached Lots in Torrance, CA
Builder & Developer Magazine (November 23, 2021) – Land Advisors Organization — the nation’s largest residential land brokerage firm — has closed on the purchase of 39 lots by homebuilder Williams Homes to develop a new residential community on the eastern border of Torrance, Calif. The builder aims to have the first model homes open by Q3 2022.
The 2.12-acre site is situated in the center of Plaza Del Amo on a vacant stretch of land that once was a railroad line. The community will consist of 39 two-story single-family detached homes ranging from 1,453 to 1,848 square feet. Available floor plans include three to four bedrooms with 2.5 bathrooms. All models will feature two garaged side-by-side parking spaces and 10-foot deep backyards.
“Plaza Del Amo represents the last entitled lots available for a builder to develop more than 15 two story, detached homes anywhere west of the 405 freeway in the South Bay,” says Chris Gomez-Ortigoza, vice president at Land Advisors Organization. “It also represents the second entitled land transaction we have sold for Storm Properties to a home builder in the Torrance submarket in the past 45 days.”
Plaza Del Amo is located on the vacant strip running down the center of the 1300 to 1600 blocks of Plaza Del Amo, close to Interstate 405 and Pacific Coast Highway, allowing for a smooth and efficient commute to “Silicon Beach” or downtown Los Angeles.
“As of the closing, there are just over 40 active communities in the entire Los Angeles urban market, down from over two years ago,” said Tim Barden, senior vice president at Land Advisors. “Fully entitled communities like Plaza Del Amo are in high demand as homebuilders try to find the very limited opportunities to stay active in the core markets of Los Angeles. Our team continues to work with developers, landowners and cities to uncover additional opportunities in this supply-constrained market.”
The Los Angeles Urban Infill Land Team at Land Advisors Organization consisting of Chris Gomez-Ortigoza and Tim Barden represented the seller, Storm Properties, in this transaction.