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Romney plans to quadruple size of Calif. home

Republican presidential candidate Mitt Romney plans to nearly quadruple the size of his $12 million California beachfront mansion.

Romney, a former Massachusetts governor and the nominal front-runner for the GOP's 2012 presidential nomination, is planning to bulldoze his 3,009-square-foot home facing the Pacific Ocean in La Jolla, Calif., and replace it with an 11,062-square-foot home, according to the San Diego Union-Tribune.

A Romney campaign official confirmed the report, saying the Romneys want to enlarge their two-bedroom home because with five married sons and 16 grandchildren it is inadequate for their needs.

In 2008, Republican presidential nominee John McCain was criticized and mocked when he said he was unsure how many houses he and his wife, Cindy, owned. The answer was eight.

Since then, perhaps sensing that the issue could be a liability for him, too. Romney and his wife, Ann, sold for $3.5 million the 6,500-square-foot colonial home in Belmont, Mass., where they raised their sons. They also sold a 9,500-square-foot home at the Deer Valley ski resort near Park City, Utah, for close to its $5.25 million asking price, according to a 2010 Associated Press report.

Romney, who made part of his fortune as co-founder of Bain Capital, a private equity firm, and his wife have personal financial assets worth as much as $264 million, according to disclosure documents filed with the Federal Election Commission this month.

Romney plans to quadruple size of Calif. home 08/21/11 [Last modified: Sunday, August 21, 2011 11:42pm]
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