Silicon Valley Business Journal
From the article:
San Jose-based homebuilder UCP is stretching out, making its first-ever land purchase in Southern California. It's the latest example of growing reach for UCP, which went public last year.
UCP is paying $27.6 million, or $290,500 per lot for a chunk of land in Rancho Cucamonga where it will build 95 homes. The site, called Rancho Etiwanda, is part of a master planned gated community called Rancho Etiwanda Estates, which will include 632 units.
In a statement, CEO Dustin Bogue said the project will "support higher operating leverage in our business while providing the opportunity to enhance brand recognition from best-in-class home building operations in our new Los Angeles region, where we look forward to further expanding our footprint.”