Pasadena : Rose Townhomes Acquired
Home-builder Kaufman & Broad has acquired the controversial Rose Townhomes project from Calmark Development Corp. and has announced plans to start construction in 30 days.
Andrew Wright, president of Kaufman & Broad’s Inland Empire division, said his company does not intend to seek any changes in the plans already approved by the city, which call for 20 single-family homes and 164 duplexes.
Wright said the single-family homes probably will be priced above $300,000 and the duplexes above $200,000.
John Husky, Calmark president, said his company sold the property in order to concentrate on other projects. Neither Husky nor Wright would disclose the purchase price. Calmark had purchased the property, 16.4 acres on Washington Boulevard north of Pasadena High School, from Pasadena Unified School District for $9.3 million. Calmark overcame strong opposition from neighboring residents to win city approval of the project.