AFG Development has sold a 482-unit apartment project on approximately 18 acres, part of a larger 35-acre mixed-use development called The Exchange.
Located near the intersection of CA-60 and I-215 in Riverside, Calif., the buyer, JPI, will complete construction on the multifamily project, Jefferson Exchange, while AFG will continue the commercial development with 44,500 square feet of future retail use. The Exchange is currently under construction, with its first apartment units available estimated for January 2025.
“We’re enthusiastic to be building adjacent to the Inland Empire’s forward-thinking ‘Innovation District,’” said Rick North, senior development manager for JPI. “This area is home to public transport, hospitals, higher education campuses, tech businesses, vintage citrus packing houses and more. It’s a diverse and exciting location that is continuing to develop.”
Located within one mile of downtown Riverside at 3461 La Cadena Driv
