Beaumont, Calif.—Homebuilder RSI Communities recently announced the closing of a deal for a 228-acre plot of land in Riverside County, Calif. The company is now on track to develop a master-planned residential community that will break ground this year, with the first homes ready for buyers at the start of 2018.
The 228-acre site will host 981 residential units with 12 different floor plans. Pricing for homes at the master-planned community will range between the high $200,000s and high $300,000s, with an emphasis on upscale features being part of the project. Known as Olivewood, the residential community will feature a high-end rec center, walking trails, and four community parks.
According to a recently issued press statement, RSI Communities’ Southern California Division President Patrick Donahue said: “We have a long-standing and strong relationship with the City of Beaumont and know there is great demand for our high-quality homes here.” Homes at Olivewood will include stainless steel appliances, White or Java cabinets, granite countertops, panel building, solar power, and LED lighting systems.
Inland Empire is one of the fastest-growing residential markets in the U.S., Yardi Matrix data shows. Average rents and median home values have grown due to increased demand as new households are being created at a quick pace. The advantage of having housing that’s priced significantly below Orange County and metro L.A. prices continues to bring commuters to Riverside and San Bernardino counties.
Image courtesy of RSI Communities