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Olson Co. Pays $8.5M for 19 Acres

POMONA, CA-The Olson Company has acquired 19-acres of property here to develop a gated residential community. The land was purchased for $8.5 million.

By Helena Harvilicz | Updated on June 13, 2002

POMONA, CA-The Olson Company of Seal Beach has acquired 19-acres here for a future gated residential community.

Olson paid Manhattan Beach-based Comstock, Crosser & Associates about $8.5 million for the property, located on the north side of Bonita Avenue, west of Towne Avenue in Pomona.

The property is located near the upscale Claremont Community and the city of LaVerne. The company plans to call the development Carriage Walk and will start building immediately. The land has already been graded. The homes are expected to sell in the high $200,000 to low $300,000 range.

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