San Francisco Business Times
From the article:
It's hard to believe it was just a little over two years ago that the first townhomes broke ground at Bay Meadows, the former San Mateo horse-racing track that closed in 2008. But today there are more than 500 people living where Seabiscuit won two stakes in the 1930s.
Now more homes are on the way. On Friday, Shea Homes acquired Meadow Walk, a 3.5-acre development in the 83-acre planned community. The company plans to build 74 townhomes; terms of the deal weren't immediately available.
It's the third Bay Meadows land deal for Shea, which has already sold out the 93-townhome Landsdowne project. On Jan. 17, Shea will open its 80-townhome Brightside neighborhood.
Janice Thacher, partner with developer Wilson Meany, said that the repeat business comes after the builder saw strong momentum at those communities. TRI Pointe Homes has also bitten off two projects — the 76-lot Canterbury and the 63-unit Amelia.
"We work with a variety of homebuilders, but I think what happened is Shea and TRI Pointe — the initial two that were selected for Landsdowne and Ameila — is they were very successful," Thacher said. "They were very comfortable, and were optimistic about what the transaction would look like as they executed. Landsdowne went really well. Brightside is going very well."