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Azusa's Huge Rosedale Community Back on (Gold Line) Track

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Whether it's the economy turning around just a bit of new-owner energy, Azusa's huge Rosedale project is doing much better lately after years of struggling. Azusa Land Partners originally started the 518 acre project with 120 residences in 2006--those all sold out, but as the economy tanked, the buildout stalled and the project went into bankruptcy, leaving Rosdale "with a partially finished community center and scores of empty lots," according to the San Gabriel Valley Tribune. In September 2010, Rosedale Land Partners (which is a partnership of Brookfield Homes, Christopher Development Group, and Starwood Capital Group) took over, cleaned things up a bit, did some rebranding, and have finished up the community center. There are now eight "neighborhoods" in the community, with units "that range from townhomes popular among first-time buyers, to luxury residences that are more sought after by move-up buyers." The units range from two to six bedrooms and two to four and a half bathrooms. Price range from the high $200,000s to the low $700,000s. The developers have sold 105 units in the past year and 88 in the first quarter of 2012 alone. When all is said and done, the megadevelopment will have 1,250 units, 10 parks, and a Gold Line rail station.
· Sales pick up in Azusa's master-planned Rosedale community [SGVN]