IHP Seizes on Low Levels of Housing and Interest Rates

Limited inventory and low interest rates continue to drive price appreciation and demand for new homes in the West, says Richard Whiteley, co-president and chief operating officer at IHP Capital Partners. With low stock and rates at the forefront, IHP Capital Partners recently acquired 4.9 acres of unimproved land in Escondido for the development of 113 three-story townhomes.

IHP partnered with California West Communities in its eleventh joint venture to bring the new community named Eclipse to north San Diego County.

“While California continues to experience a shortage of new homes at affordable price points, we are excited to partner with California West again to bring a well-designed community to the inland San Diego region,” said Jeff Enes, senior vice president at IHP Capital Partners. “Eclipse will provide homebuyers attractively priced townhomes with floorplans that are in high demand and rare in this area – especially as homebuyers seek layouts that include designated spaces for offices, home learning and other uses.”

The homes will be priced below the county of San Diego Federal Housing Administration loan limit, allowing prospective buyers to qualify for FHA financing. The project is currently in the early stages of development with groundbreaking planned for this quarter. Sales are anticipated to open in first-quarter 2022.

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