Lennar Homes Acquires Site for 102 Small-Lot Detached Units in Fontana, Ca
Irvine, CA (September 26, 2017) – Lennar Homes has acquired a site entitled for 102 small-lot detached units in Fontana, CA from Goodman Family. Land Advisors Organization, a nationwide advisory firm focused on the acquisition and disposition of land and land-related assets, represented the Buyer.
This is the second development within the last seven months that Land Advisors has closed in the area. Fontana’s close proximity to Los Angeles and Orange County has become a hot-spot for developers looking to expand in the San Bernardino County. “Fontana has been and will continue to be a coveted location for homebuilders, as it offers a sizable affordability gap from neighboring Rancho Cucamonga.” says Winn Galloway, Vice President at Land Advisors. The vibrant culture and community of the county is evident in each of its cities, especially Fontana. The Property, located at San Sevaine and Beech, is scheduled approved for 102 lots spreading across approximately 19 acres. Doug Jorritsma, Senior Vice President at Land Advisors, notes, “With the convenient access to the 210 freeway and new amenities along the corridor, Lennar is likely to command a premium for the homes in Fontana.”
Its location is not only a premium for commuters, but also for two of Southern California’s top-ranked school districts: Etiwanda and Chaffey Joint Union High School Districts. Jorritsma continues, “The proposed project at San Sevaine and Beech represents one of the last opportunities to develop homesites in the highly regarded Etiwanda School District.” The demand for homesites within prominent school districts is higher than ever, as the competition for admittance into California universities increases at astronomical rates. However, both of these prominent school districts offer guaranteed admission and additional scholarships for students to various universities throughout Southern California. These partnerships have only increased the popularity of the school districts and added to Fontana’s already homestead oasis.
Galloway finishes, “Fontana is uniquely positioned to cater to the price sensitive buyer while also demanding strong home prices. Land Advisors does not see the demand or price increases slowing anytime soon.”
Jennifer Kearby, Marketing Associate
Land Advisors Organization