Argosy Real Estate Partners, in partnership with Shopoff Realty Investments, has acquired an approximately 18-acre fully entitled site in La Quinta, Calif., for the ground-up development of SolTerra, a 131-unit small-lot single-family detached build-for-rent community. La Quinta is one of the primary destination resort cities in the Greater Palm Springs area of Riverside County, which has a population of approximately 2.5 million according to the U.S. Census Bureau.
Upon completion, the project will feature a mix of detached one- and two-story single-family rental homes with three and four bedrooms. Each home will include a washer/dryer, two-car attached garage, stone countertops, stainless steel appliances, walk-in closets, gated backyards, and smart-home technology packages. The project also will have common-area amenities, including a resort-style pool, fitness center, clubhouse, barbecue area, game lawn and dog park.
