An affiliate of Los Angeles-based homebuilder KB Home has acquired a 3.47-acre land parcel in San Diego’s Pacific Highlands Ranch community for $9.73 million, with plans to develop 69 townhomes, according to brokerage firm Colliers International Group Inc.
The seller of the property, on the north side of Village Center Loop Road near state Route 56, was Pacific Carmel AFG LLC of San Diego. The buyer and seller were represented by Colliers’ David Santistevan.
Brokers said KB Home Coastal, an entity of KB Home, plans to begin construction on the upscale for-sale townhomes before the end of 2017. The site is adjacent to The Village at Pacific Highlands Ranch, a retail center serving the growing master-planned community within Carmel Valley.