|Intended Use:||Townhome Lots|
|Civil Engineer:||Fuscoe Engineering|
|Development Manager:||LaTerra Development, LLC|
This premier residential site is zoned for 40 units, and will be designed as a townhome site for development as new, for sale homes. The site is located in an established residential submarket within the City of Orange. This ideal site is across the street from an 8 acre park and located within the City of Orange award winning school district. Employment centers are within a short commute of the site and major transportation arteries are nearby.
Orange County is among the nation’s hottest and most sought after residential markets. With the severe shortage of building lots in coastal Southern California, this acquisition is a natural fit for the LaTerra Land Entitlement and Value-Add Investment Platform. According to the Orange County Business Council, the county of 3.1 million already faces a shortfall of 62,000 homes and apartments to meet the needs of its workforce.
LaTerra also continues with its balanced focus on meeting the increasing Orange County demand for new, close-in, housing opportunities by adding a second acquisition in just a few months in Orange County, and expanding its footprint in the Orange County area. LaTerra currently owns a 4 acre site, designed for 228 apartment rental units in Santa Ana, Orange County, which is scheduled for construction start at the end of 2015.