328 Residential Units Closed in Loma Linda, CA
Land Advisors Organization is happy to announce the sale of Phase Three of The Groves at Loma Linda, a master-planned community with an approved Specific Plan for up to 328 residential units and over 170,000 square feet of mixed-use / commercial space, to Highpointe Communities. The Subject Property is located southwest of Redlands Boulevard and California Street in the City of Loma Linda. The buyer developed the adjacent community of Citrus Trails.
The Groves is a unique master-planned community located heart of Loma Linda. At the time of its sales, it was the only large undeveloped property under single ownership available in the City. Loma Linda is a highly sought-after submarket for residential builders, because it is a mature community with little to no new home supply. It is also considered the only “Blue Zone” in North America; Loma Linda is one of only five regions in the world in which its residents live considerably longer than average. Phase Three of The Groves will provide a variety of product types to meet the substantial demand for new housing within the East Valley.
The West San Bernardino County Land Team of Land Advisors consulted for the City of Loma Linda, as manager of the sales process for the Successor Agency to the Loma Linda Redevelopment Agency, in this transaction. The terms of the transaction are confidential.