Silvercrest Tentatively Agrees to Joint Venture

Silvercrest Corp., a Santa Ana mobile home maker, said Thursday that it has tentatively agreed to form a joint venture with Kaufman & Broad Home Systems Inc. of Los Angeles to develop a 385-acre mobile home park in Los Angeles.

The new development will include 800 mobile homes, half built by Silvercrest and half by Kaufman & Broad. Silvercrest said the first 303 lots are expected to be completed in April.

The value of the developed park was estimated at $36 million by Silvercrest. The mobile homes to be marketed by the two companies will retail from $59,000 to $69,000 each, a Silvercrest official said.