200 Folsom Ranch lots sold

Home developer Taylor Morrison recently secured more than 200 future home lots in the Folsom Ranch area. The purchase reportedly came at the price of more than $20 million. Real estate records show the Arizona-based company swept up what's known as Folsom Ranch Villages 6 and 7. Escrow closed in December for $21.59 million in a deal through WestLand Capital Partners of El Dorado Hills. According to brokerage Land Advisors Organization, the recently purchased property will host 116 single-family homes on 4,500-square-foot lots, and 108 single-family homes on 5,000-square-foot lots. The sold property consists of approximately 40 undeveloped acres that lies south of Mangini Parkway between E. Bidwell Street and Placerville Road. According to the sales reports, the land described the lots as in finished condition. Last year, Bill Bunce, of WestLand Capital, explained in a media interview that he foresaw several land sales ahead in Folsom Ranch to homebuilders in the upcoming years. WestLand acquired much of the land there over the last decade and in furnished a large amount of backbone infrastructure before listing the future home lots for sale. At press time, Taylor Morrison's website for Folsom hadn't illustrated a plan for the newly purchased land. The company is currently selling homes in two projects, bannered as Azure and Dakota, on the north side of Mangini Parkway. The homes range from 1,800 to 3,100 square feet, and start at $511,000.