Brookfield Residential And Standard Pacific Homes Announce Joint Purchase Of 189-Acre Parcel Within Camp Parks In Dublin, CA

DUBLIN, Calif., Sept. 30, 2015 /PRNewswire/ -- Brookfield Residential Properties Inc. ("Brookfield Residential") and Standard Pacific Corp. ("Standard Pacific Homes") jointly announce the acquisition and development rights of the 189-acre southern portion of Parks Reserve Forces Training Area (PRFTA) in Dublin, CA.

The newly formed partnership consisting of Standard Pacific Homes and BrookCal LLC (a joint venture between a subsidiary of Brookfield Residential and California State Teachers' Retirement System [CalSTRS]) has formed Dublin Crossing LLC and has secured property in an exchange agreement with Camp Parks. The Camp Parks facility, built during World War II, has served as an installation for the US Army, Navy and Air Force over the years. It is currently a training center for U.S. Army Reserve personnel. BrookCal LLC and Standard Pacific Homes are keeping smart growth in mind to create an innovative, pedestrian-friendly, master-planned community featuring up to 1,995 single- and multi-family homes. Plans to break ground are slated for Fall of 2015.

The community will offer all new home designs along with ample community amenities. The master-plan dedicates two separate land parcels to the city including 12 acres for new school and park development and 30 acres for a new city park that will create a central community hub.

The new community is adjacent to the historic Iron Horse Regional Trail, a scenic 32-mile multi-use trail that offers close proximity and walkability to the Dublin/Pleasanton BART station. The master-plan features more than 10 neighborhood pocket parks and two miles of multi-use trails. Plans also include up to 200,000 square feet of possible mixed-use commercial and retail spaces.

"Our vision is to develop a community that integrates convenience, authenticity and connectivity in a unique East Bay location," says John Ryan, Bay Area business group president for Brookfield Residential. "There are few opportunities like this in the Bay Area within walking distance of BART, a Whole Foods Market center and the Hacienda business campus with more than 11 million square feet of commercial use including Oracle and Kaiser Permanente.  We're excited to collaborate with the city of Dublin in creating a master-planned development as innovative as this one. It's truly unique and will be a source of genuine community pride."

"We at Standard Pacific Homes have been building in the Bay Area for over 40 years with several projects in Dublin,and this new community is situated in a one-of-a-kind location with close proximity to all the wonderful amenities and attractions that the area has to offer," said Tom Burrill, Standard Pacific Homes Bay Area division president. "The new community will enliven the already booming area with thoughtful planning and innovative architectural designs that speak to today's casual yet elegant lifestyle."

While Dublin has been one of the fastest growing cities in California, the partners are working closely with the city to develop this location into the City's responsibly planned community centerpiece. With the first homes expected to be delivered in 2017, Brookfield and Standard Pacific will continue their legacies of building exceptional communities and homes.

About Brookfield Residential

Brookfield Residential Northern California (San Francisco Bay Area market), a business group of Brookfield Residential, is a premier lifestyle provider who strives to create the best places to call home. We are a team of dedicated and knowledgeable professionals who have the passion and experience to craft exceptional new homes, neighborhoods and communities. In the San Francisco Bay Area market, we are respected as an award-winning innovator and are recognized for delivering consistent quality, design details and an outstanding customer experience.

Brookfield Residential Properties Inc. is a leading land developer and homebuilder in North America. We entitle and develop land to create master-planned communities, build and sell lots to third-party builders, and operate our own home building division. Further information is available at BrookfieldResidential.com.

Brookfield Residential Properties Inc. is the flagship North American residential property company of Brookfield Asset Management, a leading global alternative asset manager with over $200 billion of assets under management.

About Standard Pacific Homes

Standard Pacific Homes has been building beautiful, high-quality homes and neighborhoods since its founding in Southern California in 1965. With a trusted reputation for quality craftsmanship, an outstanding customer experience and exceptional architectural design, the Company utilizes its decades of land acquisition, development and homebuilding expertise to successfully navigate today's complex landscape to acquire and build desirable communities in locations that meet the high expectations of the Company's targeted move-up homebuyers. Standard Pacific currently offers new homes in major metropolitan areas in Arizona, California, Colorado, Florida, North Carolina, South Carolina, and Texas. For more information on the company, visit standardpacifichomes.com.

Danielle Tocco
National Director of Communications
Standard Pacific Homes
15360 Barranca Parkway, Irvine, CA 92618
Direct Line: 949.789.1633  |  Cell: 714.296.0451  |  Fax: 949.789.1633
[email protected]

SOURCE Standard Pacific Homes

Related Links

http://www.standardpacifichomes.com

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