Shopoff Realty Investments has acquired 1,463 acres of land in the city of Calimesa, Calif., located in Riverside County. The financial terms and seller were not disclosed.
Currently fully entitled, the project allows for a maximum of 3,650 residential units, 250,000 square feet of commercial space, two elementary schools, and approximately 565 acres of open space.
"The Inland Empire has continued to see immense growth over the past decade, and the demand for new housing is at an all-time high," said William Shopoff, president and CEO of Shopoff Realty. "Shopoff has played a pivotal role in several area master plans in the past by securing necessary project entitlements and are thrilled to be able to take this project through the development phase with our partner."
Located off Sandalwood Drive near the confluence of Interstate 10 and Highway 60, the project location will allow convenient freeway access for future residents to area employment, as well as the gre
