Homebuilder Stock News: Toll Brothers (NYSE: $TOL) Breaks Ground on Luxury Master-Planned Community in the Hills of Montebello
Montebello, California - December 11, 2019 (Newsfile Corp.) (Investorideas.com Newswire) Toll Brothers, Inc. (NYSE: TOL), the nation's leading builder of luxury homes, has officially broken ground on a new master-planned community in Montebello, California. Situated high on a hilltop in Montebello, this development will feature seven luxury home collections, including single-family and multi-family dwellings, a 10,000 sq. ft. resort-style recreation center, and a 5.8-acre park.
In attendance were Montebello Mayor Jack Hadjinian, Councilmember Angie Jimenez, City Manager Rene Bobadilla, Assistant City Manager Arlene Salazar, Director of Parks and Recreation David Sosnowski, Montebello Police Chief Brad Keller, and Montebello Fire Chief Fernando Pelaez.
"This new community will be monumental for our city. Toll Brothers has done an excellent job bringing this unused land to life," said Jack Hadjinian, mayor of Montebello.
This project marks the largest new home development in Montebello's history. The site is currently zoned as private property, but once developed will feature public trails leading to breathtaking city views and a new public park.
"We're excited to bring in a project that will be positive for both current and future residents," said Brian Harrelson, Toll Brothers division vice president.
Montebello Hills will feature an array of architectural styles from coastal contemporary single-family homes to modern townhomes. A total of 1,200 homes will be built with Toll Brothers' signature luxury features like seamless indoor/outdoor living, spacious great rooms, and chef-inspired kitchens.
The amenity-rich community will feature a 10,000+ square-foot state-of-the-art recreation center with a resort-style pool, custom cabanas, a co-working hub, and event lawn. Residents will also have access to a 5.8-acre public park, and seven walkable pocket parks.
Future homeowners can look forward to a nature-centric lifestyle. A total of 343 acres will be zoned for open space, with 263 acres dedicated to habitat reserve. Local conveniences include The Shops at Montebello and Monterey Park Marketplace. Students will be served by the Montebello Unified School District, which offers preschool and K-12 education.
New homes sales are anticipated to begin pre-sales in 2021 and decorated model homes debuting in 2022. For more information, please call 844.700.8655.
About Toll Brothers
Toll Brothers, an award-winning Fortune 500 company founded in 1967, embraces an unwavering commitment to quality and customer service. Toll Brothers is currently operating in 23 states nationwide and is a publicly owned company listed on the New York Stock Exchange (NYSE: TOL). For five years in a row, Toll Brothers has been ranked the #1 Home Builder Worldwide on the Fortune magazine "World's Most Admired Companies®" list.* Toll Brothers also has been honored as national Builder of the Year by BUILDER magazine, and was twice named national Builder of the Year by Professional Builder magazine. This is not an offering where prohibited by law. **From FORTUNE Magazine, February 1, 2019 ©2019 Fortune Media IP Limited. FORTUNE and The World's Most Admired Companies are registered trademarks of Fortune Media IP Limited and are used under license.
Frederick N. Cooper
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