National residential developer Meritage Homes has purchased the Irby Ranch subdivision site, property on the edge of downtown approved for a new 87-house neighborhood adjacent to a parcel set aside for a planned housing complex for adults with special needs.
Newly named Marbella, the Meritage neighborhood where Stanley Boulevard turns into First Street is designed to consist of 56 two-story houses and 31 three-story houses, along with two parks, a creekside walking trail, the Nevada Street extension, outdoor living areas and a community center that repurposes a farmhouse from the site.
Work is scheduled to start at the site toward the end of the year, with home construction slated to begin next June and completely wrap up by summer 2020, according to Nick Arenson, vice president of Meritage Homes’ Northern California Division.
“The ability to build 87 detached single-family homes just steps from downtown Pleasanton is an exceptional opportunity to create a special community,” said Barry Grant, president of the firm’s NorCal Division. “Meritage’s Marbella community will provide a unique sense of lifestyle at a price-range that is rarely available in Pleasanton.”
Meritage officials announced last week that they had closed the purchase of the site from previous owner Mike Serpa and his Irby Ranch, LLC. Terms of the transaction were not disclosed.
Serpa’s proposal for the 87-home Irby Ranch subdivision received overwhelming support from the Pleasanton City Council, along with dozens of residents in the room, last winter, in large part due to the developer agreeing to dedicate 1.64 acres on the southeast side to the city for future development for an…
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