An Orange County developer in a joint venture with a Canadian firm has filed plans to build 33 single-family homes in Arcadia.
Newport Beach-based IHP Capital Partners has teamed up with Vancouver-based Intracorp to develop a Miren housing project 2607 S. Santa Anita Ave., Urbanize Los Angeles reported.
Late last month, the two companies announced a joint venture to acquire a 2.9-acre property in which to build the 33 two-story, single-family homes on 2,500-square-foot lots.
The Miren development will include cottage and contemporary farmhouse-style homes with three- and four-bedroom floor plans ranging from 1,820 to 2,120 square feet. Prices have not been announced.
The community will feature a round-about gated entrance and a half-acre of open space on its western edge around a preserved large heritage oak tree.
Home sales are expected to begin in the second quarter of next year.
Miren is the fourth development project between IHP and Intracorp. The two firms are currently constructing Docente at Old School House, a 95-home community in Claremont. IHP and Intracorp are also nearing completion of The Isle at Mariner Shores in Newport Beach, with 36 three-story townhomes.
They are not the first firms to target Arcadia. The project site is next to a former shopping mall which was recently redeveloped by Lennar and the Olson Company with a gated townhome community of 80 homes, according to Urbanize.
Intracorp, among the largest multifamily developers in North America, has offices in Vancouver, Seattle, Austin and Newport Beach. In October, it began construction on a five-story, 178-unit apartment complex in Irvine. In December, it sold a 290-unit apartment complex in Fullerton for $168 million, which set an Orange County record of $579,310 per unit.
[Urbanize Los Angeles] – Dana Bartholomew
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