Two Orange County developers have broken ground on an Inland Empire development of 1,000 single family homes.
IHP Capital Partners and Newport Pacific Land, both based in Newport Beach, officially began building the 330-acre master planned community in Menifee, 15 miles north of Temecula in Riverside County, the Orange County Register reported.
Legado at Fleming Ranch, as it’s named, will include a swimming pool and rec center, paseos and a 13-acre public park, with its own community center and athletic fields.
A mixed-use shopping center will include 220,000 square feet of shops, restaurants and offices, atop 20 acres near the 215 freeway, according to a project website.
“Legado’s official groundbreaking event marks an exciting new chapter in Menifee’s advancement as one of the fastest-growing cities in California,” said Eric Koff, senior vice president of IHP Capital Partners.
Residential sales of Legado homes are expected to begin in the spring of 2024. Construction should be completed by the summer of 2026.
In May, IHP Capital teamed up with Vancouver-based Intracorp to develop 33 single family homes in Arcadia, in the San Gabriel Valley.
In January, it hooked up with Texas developer StoryBuilt on plans to build 17 mixed-use projects across the U.S., starting with a $44 million condominium development in Austin.
— Dana Bartholomew
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