Investors Buying 40k Acres of Sacrameto Farmland for Development
Investors are in the process of buying 40-thousand acres of farmland in the Sacramento area for future development.
Monday, January 3, 2005
The combined purchases – some done, some to come – total more than $150 million going to owners of farmland around the region. Some of the new deals are prompted by the enormous demand for new homes…such as the sale of Antonio Mountain Ranch near Lincoln, or that of the 23,000 acre Howard Ranch east of Elk Grove. Others are more complex. The 17,000 acre Conaway Ranch east of Davis in Yolo County was sold to developers interested in the rights to water, natural gas, and minerals, as well as the farming and duck hunting potential. The remaining 2,000 acres of Conaway Ranch are suitable for housing or commercial development.