Marblehead Gets Going Again
Early last year, Marblehead, a coveted piece of coastal California real estate located in San Clemente, traded hands from Lehman Brothers Holdings to merchant-builder Taylor Morrison in a deal valued in excess of $200M. Once a victim of the housing downturn, the moth-balled project is springing back to life with model home completions and sales activity set to begin this summer and move-ins to take place by the end of the year. The 248-acre luxury housing project, branded as Sea Summit at Marblehead, will have sale prices starting at just under $1M and topping out north of $3M. At build-out, the project will consist of 309 homes.
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