Green Oak is partially improved with a couple rough graded pads in the highly desirable City of Vista. The Property was previously planned for a medical office building, but discussions with the city have yielded positive feedback in favor of residential development with a potential of up to ±22 dwelling units per acre. Townhome concepts have been encouraged and a zone change will be needed to build residential units.
The Property is located on the southwest corner of Green Oak Road and Sycamore Avenue, conveniently positioned one mile south of Highway 78, connecting Interstate 5 and Interstate 15. This area is served by the highly-rated, San Marcos Unified School District, and has three private schools within a four-mile radius.
Beazer has begun construction on their 103-unit townhome project called Soltaire on the northeast corner of Green Oak Road and Sycamore Avenue, which highlights the need for more housing in this supply constrained market.