Developer D.R. Horton has acquired the Meadowlark land site in Riverside from American Property Enterprises and Western Residential Opportunity Fund. The property is fully entitled for 83 townhomes at affordable prices, starting in the $300,000 range.

The project will feature attached, two-story townhomes. The homes will include two-to-four bedroom floor plans, ranging in size from 1,132 square feet to 1,584 square feet. The price point will be well within the Federal Housing Administration's new $431,250 loan limit for Riverside County, which can help borrowers who are unable to make large down payments.

Justin Esayian, SVP with the Hoffman Co., brokered the sale.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM Digital Member, you’ll receive:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.