HomeFed Corporation invests and develops residential real estate projects in California and Virginia. The company also investigates the acquisition of new real estate projects, both residential and commercial. The company’s development projects consist of three master-planned communities: San Elijo Hills and a portion of the larger Otay Ranch planning area, both located in San Diego County, California, and Ashville Park located in Virginia Beach, Virginia. The company also owns the Rampage property and the Fanita Ranch property. San Elijo Hills The San Elijo Hills project, a master-planned community located in the City of San Marcos in San Diego County, California, would be a community of approximately 3,500 homes and apartments, as well as a commercial and residential Towncenter. The company’s interest in the San Elijo Hills project is 85%. Ashville Park The company owns Ashville Park, a 450 acre master planned community located in Virginia Beach, Virginia. The company owns 451 entitled single family lots, of which 91 lots were finished lots that were available for sale and 1 lot was a visitor center. The project is being developed in phases, with the first phase (Village A), including the acquired finished lots and the second phase (Village B) a 164 lot development. The timing of the development and sale of the remaining 280 lots (as of February 6, 2014) and the visitor center is uncertain. Otay Ranch The company’s subsidiary Otay Land Company, LLC owns approximately 2,800 acres, of which the total developable area is approximately 700 acres, including approximately 170 acres of land designated as Limited Development Area and Common Use Area. The remaining approximately 2,100 acres are designated as various qualities of non-developable open space mitigation land. Other Projects Rampage Property The company owns a 1,544 acre grape vineyard located in southern Madera County, California (title is owned in fee simple). Fanita Ranch The company owns a 2,600 acre parcel of vacant land located in Santee, California. History HomeFed Corporation was incorporated in Delaware in 1988.
(HOFD:OTC Markets Group Inc - OTCQB)
1903 Wright Place
Carlsbad, CA 92008
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