Residential Links: www.bloomberg.com
By: gordonhigh
In 2007, Haddad sold 12,000 acres of undeveloped California land. Two years later, after the economy crumbled, he repurchased it at half the price and pocketed $277 million. He and his company FivePoint Communities are now on the verge of beginning construction on four new master-planned communities on the land, with a estimated total of 45,000 new homes.
