An affiliate of a Mt. Pleasant-based home builder purchased 30 acres of vacant land in Paddock Lake from an affiliate of Kenosha-based Bear Development.
TNG 26, LLC, which is registered to Newport Development Corp., purchased the parcel, west of Highway F and south of Highway 50, from Stephen C. Mills, CEO of Bear, for $1 million, according to state records.
In December, Bear presented a plan to the Paddock Lake Committee of the Whole for a subdivision project called Whitetail Ridge that included 65 multi-family units and 28 single family homes at the site.
Like Bear Development, Newport Development Corp. specializes in single family and multi family home development. The company was started in 1988 by Raymond Leffler and has completed projects in Racine, Kenosha, Walworth and Waukesha counties, according to the website.
Mills and Leffler could not immediately be reached for comment.
