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BETHEL ISLAND — When the first homes will be built in the largest and most upscale housing development ever designed on Bethel Island remains guesswork, although there are small signs that Delta Coves still might become a reality.

Irvine-based land developer SunCal has acquired ShadowGlen, a housing community currently under development near Austin. SunCal plans to continue developing the master-planned neighborhood in Manor, Texas, which, when finished, will add 3,000 homes to SunCal’s residential portfolio.

SunCal, an Irvine, Calif.-based residential development company, paid $15 million for the remnants of the ShadowGlen master-planned community in Manor. In all, SunCal acquired 758 acres of the 1,400-acre community from 2010 ShadowGlen LLC, a partnership between Dwyer Realty in Manor and MHI Partnership Ltd. in Austin.

IRVINE, CALIF., (Jan. 8, 2013) – SunCal, one of the leading privately held land developers in the U.S., has closed the $15 million purchase of the partially developed 758-acre ShadowGlen master-planned community in Manor, Texas, an eastern suburb of Austin, the state capitol.

SunCal, a U.S. housing developer that survived the collapse of its biggest partner, Lehman Brothers Holdings Inc., bought a 3,000-home site near Austin,Texas, as demand for lots heats up amid rising construction.