SAN RAMON — A top-notch real estate firm has bought a San Ramon site where the company intends to develop several hundred apartments and create a new neighborhood at Bishop Ranch.

AvalonBay Communities, acting through an affiliate, has paid $30.5 million near the corner of Bollinger Canyon Road and Camino Ramon, according to documents filed on Dec. 1 with the Contra Costa County Recorder’s Office. AvalonBay bought the empty land site through an all-cash deal.

The real estate company intends to build 456 apartments on the 5.7-acre site, according to AvalonBay.

The housing development is another vital component of the emerging vision of Bishop Ranch as San Ramon’s urban core, a lively hub of office buildings, homes, shops, restaurants, entertainment centers, lodging sites and open spaces

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