IHP Capital Partners, KB Home break ground on 20-acre, mixed-use development in Carlsbad, Calif.

IHP Capital Partners and KB Home announced the acquisition and groundbreaking of Marja Acres, a new 20-acre, mixed-use community in Carlsbad, Calif., that will include 248 three-story townhomes, 10,000 square feet of commercial space and 46 affordable apartments for adults 55 years of age and over.

Located on the site of a former nursery, the infill community will pay homage to the property’s agricultural history through its name and urban farm aesthetic and provide a variety of modern new living options for multiple generations of Carlsbad residents, along with a daycare, 2,000 square feet of restaurant space, parks, community center and other on-site amenities.

IHP and KB Home are developing the Marja Acres project together, completing the site’s infrastructure and constructing the 248 townhomes. Upon the overall community’s final map approval, the 46 affordable apartments will be conveyed to and completed by USA Properties. Site grading for the townhomes is cu