IHP Capital Partners and Intracorp Homes have formed a joint venture to acquire a two-acre infill site in Alhambra, Calif., to develop The Cordova, a new 49-home residential community. The community will feature nine detached homes and 40 townhomes, 10 of which will be affordable units. Site development is under way, with vertical construction expected to begin in September 2025.
The property, located at 801 E. Main St., previously operated as a car dealership and has since been cleared for redevelopment. Intracorp secured the site in an off-market transaction ahead of the City of Alhambra’s general plan update, which rezoned the property from commercial to residential. A tentative tract map for the project was approved in third quarter 2024.
“The Cordova presents a rare opportunity to deliver new housing in a built-out, high-demand submarket of East Los Angeles County,” said Jeff Enes, partner at IHP Capital Partners. “It’s infill location and compelling bac
