TRI Pointe Homebuilder Enters Sacramento Market, Opening Natomas Meadows Community in North Natomas

September 23, 2017 | 

The nation's tenth largest homebuilder has announced plans to enter the Sacramento regional housing market.

TRI Pointe Homes, a division of TRI Pointe Group (NYSE: TPH) is expanding its Northern California presence by opening an operation for the Sacramento area housing market. TPH's initial development is slated for Sacramento's North Natomas.

That development, Natomas Meadows, has plans for 94 small lot, single-family homes. The community is scheduled to open in late 2018 and will offer homes priced within reach of first-time buyers. 

“Sacramento has a lot to offer with its own history, economic drivers, community dynamics and residential growth opportunities," Tom Lemon, Division President of TRI Pointe Homes Sacramento said. "We’ve been watching this market closely, and all market conditions indicate that this is an opportune time to enter the region.”

With its existing Bay Area operations, TPH expressed optimism with its Sacramento expansion. In their announcement, TPH said, "the region has also seen tremendous job growth, with 20-percent of the area’s jobs spread among a diversified base of employers in high-income sectors including government, healthcare, tech and financial services."  

TPH said the North Natomas development would be the first of several it intends to pursue in the region. The announcement did not mention if the expansion includes Elk Grove's Southeast Policy Area, although they currently control more than 250 lots that it expects to bring to market by late 2018 and early 2019.

Acknowledging the Bay Area's high housing costs, the announcement also noted that the Sacramento market "is supported by buyers seeking attainable home prices while still being able to maintain social and employment connections to the Bay Area."

Irvine, California-based TPH one of the top ten largest public homebuilders in the United States based on equity market capitalization. TPH closed at $13.06 in yesterday's trading.    

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