Heinz Ranch DressingThe 1700 acre Heinz Ranch property changed hands in an off market deal for just under $20M on 7 January 2016. The site spans both sides of the White Lake interchange on 395 in the North Valleys.

The Conceptual Plan calls for 3800 single family units, just under 700 multifamily units, and a few million square feet of industrial / distribution / retail.  2 new school sites are included in the conceptual plan.  A very similar plan unraveled in 2007.  Pricing is targeting the $250-400,000 markets, with an average of $315,000.

The sale includes approximately 1700 acre feet of agricultural water rights (deed of trust says 4034, but those might not all be “proven”).  If those can be converted to domestic use, another 1300 AF of water will be required by final build-out.

It is a huge project, and though I don’t agree with many of their project assumptions – anyone who disses Spanish Springs over commute issues hasn’t driven 395 lately – I think it will be a success.