The sale of one of the largest residential land transactions in Los Angeles County in recent years was recently completed by Land Advisors Organization California. More than 25 years in the making, the 173-acre site was first conceived as a 1,945-unit development in the early 1990s. In 2015, the Montebello Hills Specific Plan was approved for up to 1,200 residences across a variety of product types and densities.
The buyer was a joint venture between Toll Brothers and Lennar. The seller was Sentinel Peak Resources LLC.
Metro Heights, located at 1001 E. Lincoln Ave. in Montebello, is situated just 10 miles east of downtown Los Angeles. The development sits in the geographic center of the second largest MSA in the country.
The community’s initial phase recently broke ground and the first models are expected to open in 2022. Metro Heights plans to offer a mix of stacked flats, along with several different townhome and single-family detached home designs once it is fully built out.
“Metro Heights is one of the last and most significant major development opportunities in urban Los Angeles County with entitlements currently in place,” said Tim Barden, senior vice president, Land Advisors Organization California. “It is a unique new destination community in the San Gabriel Valley offering an incomparable relationship to downtown Los Angeles.”
Lisa Brown has more than 30 years of experience in corporate communications and marketing management with organizations including Grubb & Ellis, Marcus & Millichap and NAIOP.
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