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California  + Inland Empire  + Apartments  | 

Residential Land in Supply-Constrained Lake Elsinore Moves Forward

Lake Elsinore is characterized as an extremely supply constrained market but a recent land transaction aims to solve that conundrum. That parcel in the Alberhill Specific Plan includes Alberhill Ranch, Alberhill Ridge and Alberhill Villages for a combined 2,069 total acres. These communities are in various stages of development with actively selling subdivisions, and entitled single-family and multifamily developments.

Alberhill Ranch was partially developed with more than 550 occupied homes, a community sports park, a private swim park and an elementary school. Alberhill Ridge is a residential and commercial development targeted for entitlement approvals in fall 2021. And, Alberhill Villages is a 1,375-acre community with a specific plan entitlement calling for more than 8,000 single-family and multifamily housing units, a university site and other commercial areas.

Coldwell Banker Commercial and Land Advisors will begin the marketing efforts of two communities within the Alberhill Specific Plan by the end of this month, including Phase 4 of Alberhill Ridge approved for 144 units and The Ridge community consisting of 934 single-family lots with lot sizes ranging from 4,000 to 5,500 square feet.

The land seller, Castle & Cooke Companies, was represented by Brandon Sudweeks and Eric Washle with Coldwell Banker Commercial SC, and the buyer, Lansing Companies, was represented by Brian Carricaburu and Andrew Sinderhoff with Land Advisors. Terms of the deal are confidential.

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About Lisa Brown

Lisa Brown has decades of experience in corporate communications and marketing management with organizations including Coldwell Banker Residential, Grubb & Ellis, Marcus & Millichap, NAIOP, SIOR and ALM. In those positions, she worked in conjunction with chief executive officers and chief marketing officers to create corporate messaging, cohesive branding standards, strategic marketing plans and thought pieces. Brown is a frequent speaker at industry events and an editing adjunct professor for an online course. She has a master’s degree in mass communications from San Jose State University.

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