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California  + Inland Empire  + Finance  | 
Corona, California

Kennedy Funding Closes $4M Loan in Corona

With a certain high-profile, professional football game on tap soon, this story about 17 acres in Riverside County is equivalent to a story about 17 football fields* (sans cheerleaders, etc).

Kennedy Funding, based in Englewood Cliffs, N.J., has secured a $3.6-million land loan for 17.02 acres of raw land in Corona. The site is projected to be a mixed-use development called Silver Lakes. 

The mixed-use approach will support not only local business, but also would-be employees. Located southeast of Los Angeles, the city of Corona is home to a growing population of more than 157,000 residents. 

Corona is also home to several large companies: Monster Energy (drinks), Sterno and the distribution center for apparel company Zumiez.

Approvals have been granted for the development of 8.95 acres of commercial zoning totaling 25,715 square feet, as well as 78 residential condominiums on 8.07 acres. 

  • From One acre is 43,560 square feet. An American football field is 100 yards by 50 yards, which is 300 feet by 150 feet. Thus a football field is 300 150 = 45,000 square feet. Hence a football field is quite close to an acre in size.


Inside The Story

Kennedy Funding

About Jason Middleton

  • ◦Development
  • ◦Financing