Highpointe Acquires Victorville Community
Highpointe Communities Inc. in Tustin has acquired a long-unfinished Brentwood master-planned community in Victorville, a recession casualty where more than half the 1,686 lots are still raw land.
The bet is that the surging economy will create demand for affordable housing among workers in places such as Ontario and the eastern San Gabriel Valley. That could mean good times again for developers in the high-desert home of Roy Rogers and the Joshua tree.
Newport Beach’s Capital Pacific Holdings Inc. is looking farther afield. It recently acquired 141 lots in Glendale, Ariz., and 208 lots in Buda, Texas, to put up small- to medium-sized homes.
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E. Scott Reckard covers real estate for The Times. He can be reached at (714) 966-7407 and at scott.reckard@latimes.com
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