planning area 2 within paradise knolls masterplan • 10.4 acres • … · 2017. 11. 27. · with...

FOR ADDITIONAL INFORMATION:

LIMONITE AVENUE & BEACH STREET - JURUPA VALLEY, CA | RIVERSIDE COUNTY


Lee & Associates-North San Diego County | 1900 Wright Place, Suite 200, Carlsbad, CA 92008 | T: 760.929.9700 F: 760.929.9977 | www.lee-associates.com

AL APUZZO760.448.2442

[email protected] BRE LIC #01323215

MATT WEAVER760.448.2458


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• Planning Area 2 within Paradise Knolls Masterplan• 10.4 Acres• Zoned 20+ Du/Acre• Buyer to Process Site Plan & Architecture for PA2• Units can be Rented or Sold

OFFERS DUE FRIDAY, DECEMBER 15th, 2017

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±300 UNIT MULTI-FAMILY DEVELOPMENT OPPORTUNITY - PARADISE KNOLLS MASTERPLAN

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LIMONITE AVENUE & BEACH STREET - JURUPA VALLEY, CA | RIVERSIDE COUNTYLIMONITE AVENUE & BEACH STREET - JURUPA VALLEY, CA | RIVERSIDE COUNTY


PAGE CONTENT

3 EXECUTIVE SUMMARY

4 AERIALS

7 LOCATION MAP

8 PROPERTY INFO

9 MASTERPLAN INFORMATION

10 SITE PLAN

11 COST & FEE ESTIMATES

13 CONCEPTUAL LANDSCAPE PLAN

14 CONCEPTUAL HOA EXHIBIT

15 COMPS/MARKET INFORMATION

S. The Strand

No warranty or representation is made to the accuracy of the foregoing information. Terms of sale, lease and availability are subject to change or withdrawal without notice.

SUBJECTPROPERTY

PA2

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±300 UNIT MULTI-FAMILY DEVELOPMENT OPPORTUNITY - PARADISE KNOLLS MASTERPLANEX

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For the last 53 years, Paradise Knolls and its 107 acres, has been known in the community as the only 18 hole golf course along the Santa Ana River. The developers have created a 650 unit Master Planned Community that makes nature re-connection a central theme throughout the project with an 18-acre dedicated green belt along the Santa Ana River. This greenbelt allows for walking, picnic areas, bird watching, equestrian trails, stables and exercise arena. There is direct access to the horse trails throughout the Santa Ana River thus continuing the rich equestrian heritage still prevalent throughout the Jurupa Valley community.

Additionally, a 6-acre recreational concourse with some 60-year old trees parallels the southern boundary of Planning Area 2 thus providing its residents a beautiful shade canopy for walking and some recreation as well as access via a short walk to the 18-acre green belt and the River. With the river, greenbelt and mature shade trees, a unique residential oasis with water and shade has been created in the middle of the Inland Empire just 2.8 miles from the I-15/Limonite interchange.

The entire 107 acre Paradise Knolls has an approved Specific Plan which created the Planning Areas as shown on the land plan with a maximum 650 number of dwelling units as mentioned. Planning Area 2 has the right to build a “For Sale” product in PA 2 per the Specific Plan entitlement and zoning. These units can be rented. The buyer of PA 2 will have to submit a site plan and architecture of what he wants to build on PA 2 to the Planning Commission for their review and approval.

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±300 UNIT MULTI-FAMILY DEVELOPMENT OPPORTUNITY - PARADISE KNOLLS MASTERPLANA

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Norte Vista High School

Rutland Park

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Limonite Ave

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Beac

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Santa Ana River

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Van Buren Blvd

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Limonite Ave

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Goose Creek Golf Club

Beach St

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JURUPA VALLEYBOX SPRINGS

MOUTAIN RESERVE PARK

CHINO HILLS STATE PARK

SANTA ANA RIVER

Jurupa Rd

Limonite Ave

Bellgrave Ave

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LOCATION:

Jurisdiction: City of Jurupa Valley

Planning Area: PA2 of Paradise Knolls Master Plan

Lot Size: 10.4 Acres

Entitlement Status:

Topography: Flat

Zoning: 20+ Du/Acre

HOA:

Specific Plan: Paradise Knolls Specific Plan Impact Fees: Approximately $46,131 per unit

Site Improvements:

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PROPERTY FEATURESThe property is located on the south side of Limonite Avenue with 8 acres west of Beach Street and 2.4 acres east of Beach Street and less than three miles east of Interstate 15. Known as planning area 2 of the Paradise Knolls Masterplan, its southern border is land along the Santa Ana River which residence will have access to via an 18 acre community green belt.

A HOA will be necessary for the maintenance of landscaping, common area amenities and other common elements. The formation of the HOA will be the responsibility of the Buyer.

On and off site costs estimated to be approximately $5,472 per unit

Most of the on and off site costs have been loaded in the PA-1 cost estimate to meet the PA-1 Conditions of Approval. This is a separate planning area in the master plan. This does benefit the PA-2 multifamily site, as we are only showing the remaining costs needed to complete the PA-2 site that PA-1 conditions do not include.

Entitled for “for sale” townhome or condo project. The units can be rented. Buyer will have to submit a site plan & architecture to planning commission for review and approval.

PA2

PA2

Note: A 2.2 acre (PA3) commercial/retail site of 30,000 SF is adjacent to the 2.4 acre (PA2) site.

School District: Jurupa Unified School District

Services: Water/Sewer Jurupa Community Services District Gas Southern California Gas Company Electricity Southern California Edison Fire Cal Fire/Riverside County Fire Dept. Police Jurupa Valley Sheriff’s Dept.

PRICE: OFFERS DUE FRIDAY, DECEMBER 15TH, 2017

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±300 UNIT MULTI-FAMILY DEVELOPMENT OPPORTUNITY - PARADISE KNOLLS MASTERPLANM

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PARADISE KNOLLSJURUPA VALLEY, CA

Property OverviewSITE PLAN

PA1 | Approved TTM 36823

107 Lots | 60’ x 100’

PA5 | Awaiting Design Submittal

Up to 248 lots (5 to 8 DU/AC)

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PLANNING AREA LAND USE DENSITY GROSS ACRES UNIT COUNT LOT DIMENSION

PA1 Medium Density 2 to 5 DU/AC 21.5 107 60 x 100

PA2 High Density 20+ DU/AC 10.4 Up to 289 TBD

PA3 Comm | Retail N/A 2.2 N/A N/A

PA4 Low Density Up to 2 DU/AC 4.4 Up to 6 TBD

PA5 Med | High Density 5 to 8 DU/AC 34.6 Up to 248 Flexible

PA6 Open Space N/A 18.2 N/A N/A

N/A Roads/Circulation N/A 15.9 N/A N/A

TOTAL: 107.2 Up to 650

SUBJECT PROPERTY 300

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10PARADISE KNOLLSJURUPA VALLEY, CA

Property OverviewSITE PLAN

PA1 | Approved TTM 36823

107 Lots | 60’ x 100’

PA5 | Awaiting Design Submittal

Up to 248 lots (5 to 8 DU/AC)

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PLANNING AREA LAND USE DENSITY GROSS ACRES UNIT COUNT LOT DIMENSION

PA1 Medium Density 2 to 5 DU/AC 21.5 107 60 x 100

PA2 High Density 20+ DU/AC 10.4 Up to 289 TBD

PA3 Comm | Retail N/A 2.2 N/A N/A

PA4 Low Density Up to 2 DU/AC 4.4 Up to 6 TBD

PA5 Med | High Density 5 to 8 DU/AC 34.6 Up to 248 Flexible

PA6 Open Space N/A 18.2 N/A N/A

N/A Roads/Circulation N/A 15.9 N/A N/A

TOTAL: 107.2 Up to 650

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PROJECT COST ESTIMATEPARADISE KNOLLS PA 2 SummaryLansing Company

No. of Lots Product Type300 Multi Family Units 10.4 Acres of Land Disturbance

DATE ESTIMATED: 11/5/2017DATE PRINTED: 11/8/2017ESTIMATED BY: Allard Engineering

Cost Per Dwelling UnitBackbone Improvements needed to Deliver PA 2 $862,702 $2,876

In Tract Costs $778,846 $2,596

Total Construction $1,641,548 $5,472

Fees per Unit (Approx) $13,839,186 $46,131

TOTAL COST TO COMPLETE $15,480,734 $51,602

PA 2 (300 d.u.) Analysis

12Lee & Associates-North San Diego County | 1900 Wright Place, Suite 200, Carlsbad, CA 92008 | T: 760.929.9700 F: 760.929.9977 | www.lee-associates.com



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PROJECT COST ESTIMATEPARADISE KNOLLS PA 2 BackboneLansing Company

No. Product Type300 Multi Family Units 10.4 Acres of Land Disturbance


ESTIMATED UNIT UNITLine ITEM QUANTITY MEASURE PRICE AMOUNT

1 BACKBONE STREETS23 "A" Street (curb to curb West PL to Beach)4 3" AC / 4" Base ( Local, 2 lifts) 28,000 S.F. $2.16 $60,480.005 6" Curb and Gutter 1,400 L.F. $12.00 $16,800.006 8" Curb and Gutter (Collector) 0 L.F. $12.00 $0.007 8" Curb only (Median) 0 L.F. $12.00 $0.008 4" PCC Sidewalk 7,000 S.F. $3.25 $22,750.009 Cross Gutter 1 EA. $6,000.00 $6,000.00

10 Access Ramp 2 EA. $1,250.00 $2,500.0011 Street Name Signs 1 EA. $1,000.00 $1,000.0012 Street Lights 2 EA. $3,000.00 $6,000.0013 Signing & Striping (per intersection) 1 LS $5,000.00 $5,000.0014 Sub-Total A $120,530.001516 TOTAL STREETS $120,530.001718 STORM DRAIN (Regional)19 WQMP/Detention Basins 1 EA. $30,280.00 $30,280.0020 Levee Filter Fabric 0 SY $5.00 $0.0021 Levee 1/2 Ton Rip Rap 0 CY $100.00 $0.0022 Exit Structure 0 EA. $20,000.00 $0.0023 Sub-Total Storm Drain (Regional) $30,280.00242526 SEWER27 8" VCP with bedding 700 L.F. $42.00 $29,400.0028 48" Manhole 2 EA. $3,500.00 $7,000.0029 Adjust manhole to grade 2 EA. $350.00 $700.0030 Stubs to Planning Areas 2 EA. $1,000.00 $2,000.0031 Lift Station 0 LS $750,000.00 $0.0032 Force Main 0 L.F. $50.00 $0.0033 TOTAL SEWER $39,100.003435 WATER36 8" Water Main with fittings 700 L.F. $34.00 $23,800.0037 8" Gate Valves 3 EA. $1,800.00 $5,400.0038 10" Water Main with fittings 0 L.F. $50.00 $0.0039 10" Gate Valves 0 EA. $1,500.00 $0.0040 Fire Hydrant 2 EA. $4,800.00 $9,600.0041 Hot Tap connection 0 EA. $6,500.00 $0.0042 11/2" Landscape lateral with meter (Allowance) 1 EA. $10,000.00 $10,000.00

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PROJECT COST ESTIMATEPARADISE KNOLLS PA 2 BackboneLansing Company

No. Product Type300 Multi Family Units 10.4 Acres of Land Disturbance


ESTIMATED UNIT UNITLine ITEM QUANTITY MEASURE PRICE AMOUNT

43 Adjust valve box to grade 3 EA. $250.00 $750.0044 TOTAL WATER $49,550.004546 MISCELLANEOUS BACKBONE CONSTRUCTION47 Dry Utilities (Murow Backbone est) 0 LS $983,556.00 $0.0048 Concourse (Estimated Size) 0 S.F. $4.00 $0.0049 Concourse Amenities 0 EA. $25,000.00 $0.0050 Landscape Levee 0 SF $3.50 $0.0051 Enhance Existing Levee/Open Space 0 LS $250,000.00 $0.0052 Equestrian Center Allowance 1 LS $350,000.00 $350,000.0053 Entry Monuments 1 EA. $25,000.00 $25,000.0054 TOTAL MISCELLANEOUS CONSTRUCTION $375,000.005556 Sub-Total Tract Construction $614,460.0057 Contingencies 20% OF $614,460.00 $122,892.0058 TOTAL CONSTRUCTION $737,352.005960 OTHER COSTS61 Bonding (1%) 1% $7,373.5262 Consultants (Eng,Arch,Geo,etc) 5% of Const. Cost 10% $73,735.2063 Permits,Inspections,Misc. Fees (Average 6% of Const. Cost) 6% $44,241.1264 TOTAL OTHER COSTS $125,349.846566 TOTAL TRACT ( Const, Other) $862,701.8467 Per Lot $2,875.67

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Property OverviewHOME OWNER’S ASSOCIATION EXHIBIT

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NEW HOME SALES COMPARABLES

FOR RENT INFORMATION & COMPARABLES

Project Name Builder Name City Open Date Product TypeTypical Lot

SizeUnit Size

Min

Unit Size Max MinPrice MaxPrice Min $/SF Max $/Sf

Total Units

Planned

Total Units Sold

Total Remaining

Ardena at Terramor Del Webb Corona 4/23/2017 Detached 5000 1579 1865 416,990$ 445,990$ 239.14$ 264.08$ 57 6 51Cortina at Terramor Del Webb Corona 4/30/2017 Detached 5500 1999 2172 467,990$ 482,990$ 222.37$ 234.11$ 105 9 96Terrassa Court TRI Pointe Homes Corona 1/16/2016 Detached 4085 1711 2208 415,900$ 470,900$ 213.27$ 243.07$ 94 59 35Terrassa Villas TRI Pointe Homes Corona 1/16/2016 Detached 3366 1875 2307 458,900$ 493,900$ 214.09$ 244.75$ 52 14 38Elation at the Lodge KB Home Eastvale 7/1/2014 Detached 3000 1993 2664 443,880$ 494,880$ 185.77$ 222.72$ 154 132 22Harmony at the Lodge KB Home Eastvale 8/5/2014 Detached 2500 1544 2093 431,880$ 489,900$ 234.07$ 279.72$ 124 114 10Mill Creek Crossing Lennar Eastvale 1/31/2015 Detached 7176 2287 2287 558,490$ 558,490$ 244.20$ 244.20$ 122 122 0Symmetry at the Lodge KB Home Eastvale 1/23/2016 Detached 3000 2325 2570 472,880$ 503,880$ 196.06$ 203.39$ 98 61 37Nexus William Lyon Homes Jurupa Valley 9/19/2015 Attached - 1403 1643 356,121$ 397,701$ 242.06$ 253.83$ 220 127 93Cantera Frontier Communities Jurupa Valley 6/25/2016 Detached 9000 2520 3418 456,990$ 506,990$ 148.33$ 181.35$ 106 51 55Coventry at TurnLeaf (The) William Lyon Homes Jurupa Valley 7/29/2014 Detached 7800 3426 3803 589,990$ 622,990$ 163.82$ 172.21$ 84 74 10Harmony Lennar Jurupa Valley 3/4/2016 Detached 4000 1827 2409 451,581$ 506,790$ 210.37$ 247.17$ 114 59 55Harvest Villages Lennar Jurupa Valley 5/31/2014 Detached 7500 2284 4122 504,140$ 626,790$ 152.06$ 220.73$ 138 132 6Harvest Villages II Lennar Jurupa Valley 10/24/2015 Detached 7500 2284 4122 504,140$ 626,790$ 152.06$ 220.73$ 106 105 1Sage Pointe Express Homes Jurupa Valley 4/19/2015 Detached 7000 2467 2919 483,990$ 491,030$ 168.22$ 196.19$ 123 121 2Serenity Lennar Jurupa Valley 3/4/2016 Detached 6000 1946 3672 470,890$ 606,790$ 165.25$ 241.98$ 132 67 65Serrano Ranch Pulte Homes Jurupa Valley 2/27/2016 Detached 8052 2550 3988 504,990$ 570,990$ 143.18$ 198.04$ 206 96 110Tranquility Lennar Jurupa Valley 3/4/2016 Detached 5500 2033 4122 508,640$ 658,240$ 159.69$ 250.19$ 119 69 50Horizon Pointe at the Quarry Express Homes Riverside 7/23/2016 Detached 7000 2611 2611 479,990$ 479,990$ 183.83$ 183.83$ 43 41 2Hudson Pointe at Skypark D.R. Horton Riverside 12/10/2016 Detached 5500 2401 2844 416,615$ 454,990$ 159.98$ 173.52$ 85 28 57Meridian Pointe Express Homes Riverside 5/6/2017 Detached - 1868 2239 385,990$ 408,490$ 182.44$ 206.63$ 36 12 24Mission Gate at Spring Mountain Ranch KB Home Riverside 10/4/2014 Detached 7992 1698 2925 399,990$ 459,919$ 157.24$ 235.57$ 215 209 6Mission Square Frontier Communities Riverside 1/3/2015 Detached 4500 1961 2597 434,000$ 484,500$ 186.56$ 221.32$ 62 60 2Monarch at the Quarry Express Homes Riverside 7/23/2016 Detached 7000 2806 3124 461,725$ 585,999$ 187.58$ 164.55$ 42 35 7Presidio Point at Spring Mountain Ranch KB Home Riverside 10/1/2014 Detached 8320 2663 3595 455,660$ 540,465$ 150.34$ 171.11$ 218 213 5Riverwalk Vista/Fallbrook Richmond American Homes Riverside 8/30/2014 Detached 3600 1821 2123 418,990$ 457,990$ 215.73$ 230.09$ 111 106 5Tesoro at La Sierra Meritage Homes Riverside 7/18/2015 Detached 3800 2220 2736 400,990$ 449,990$ 164.47$ 180.63$ 76 65 11

CLICK TO VIEW DOCUMENT LINKS

GENERAL MARKET RENTAL INFORMATION

RENT COMPS IN RIVERSIDE COUNTY

http://www.lee-associates.com/elee/sandiego/LeeLandTeam/ParadiseKnolls/RentComps.pdf

http://www.lee-associates.com/elee/sandiego/LeeLandTeam/ParadiseKnolls/GeneralMarketRentalInfo.pdf

16Lee & Associates-North San Diego County | 1900 Wright Place, Suite 200, Carlsbad, CA 92008 | T: 760.929.9700 F: 760.929.9977 | www.lee-associates.com



AL APUZZO760.448.2442


For More Information, Please Contact:

LIMONTE AVENUE & BEACH STREET - JURUPA VALLEY, CA | RIVERSIDE COUNTY


planning area 2 within paradise knolls masterplan • 10.4 acres • … · 2017. 11. 27. · with...

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