Master Planned Communities
Comprehensive, thoughtful, and collaborative land planning is one of Claremont’s core competencies. Master Planned Communities (“MPC”) in Northern California usually are intensely scrutinized, require significant engagement by the developer with all stakeholders, and require a commitment of patience over time for the developer. Claremont has been successful in bringing to market MPCs that are illustrative of this process.
The Faria Preserve was a 786-home MPC developed in the northwest area of San Ramon, originally approved in 2006, with its Development Agreement and annexation taking place in 2006 and 2009, respectively. It was sold to a hedge fund, and is ultimately being built by Lennar. Claremont retained a re-purchase right, which it has exercised.