Land Advisors is pleased to announce The New Home Company (NWHM) closed the last large undeveloped property in the City of Eastvale with Phase I of the Leal Master Plan. The project is located at the northwest corner of Limonite Avenue and Hamner Avenue. This closing comes as the first of three (3) phases in the project with the first phase consisting of approximately 800 residential units and 545,000 square feet of commercial space. The project has been renamed The Downtown Eastvale Community.
The Downtown Eastvale Community will be the future site of City Hall, a Public Library, and a Police and Fire Station. It will also include up to 2,500 residential units as well as retail space, commercial office space, and community parks. The Downtown Eastvale Community will bring new employment and business opportunities to the residents of Eastvale through the enactment of The New Home Company’s vision for a mixed-use design incorporating residential, commercial, and office development.
The New Home Company has entered a 20-year agreement with the City of Eastvale and controls the balance of the Downtown Eastvale Community. The New Home Company plans to bring the new Downtown to life through its development in the coming years. This acquisition embodies The New Home Company’s focus on investing in high-quality, well-located submarkets and demonstrates Apollo Global Management’s commitment to expanding the NWHM platform across its growing footprint.
Land Advisors West San Bernardino Team, consisting of Doug Jorritsma and Ian Sinderhoff, represented the buyer in this transaction. Matt Gibson and AJ Jarvis with The New Home Company flawlessly executed an acquisition and entitlement effort with the seller and the City on this very high-profile site.
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