Avenue 60 - PRICE REDUCE! 551 AC. FOR AG. OR RESIDENTIAL

MAJOR PRICE IMPROVEMENT - CONTACT AGENT! THERMAL 551 is located within the Eastern Coachella Valley Area Plan of unincorporated Riverside County. Eastern Coachella Valley consists of a flat valley floor and is located east of the Santa Rosa Mountains and west of the Mecca Hills and Joshua Tree National Park. The Coachella Valley Stormwater Channel, which is under the jurisdiction of the Coachella Valley Water District (CVWD), flows in a north- south orientation adjacent to Fillmore Street and the eastern boundary of the project site. The site lies within the unincorporated community of Thermal, which is located northwest of the community of Mecca and southeast of the cities of La Quinta, Indio, Coachella, and Palm Desert. The site is regionally accessible by Interstate 10 (I-10), approximately 5.0 miles to the north. Local access to the community from the north and south is provided via Interstate 111 (SH-111), State Highway 86-South (SH-86S) at a distance of approximately 0.1 and 0.7 miles, respectively. Direct access to the site is available from Fillmore Street, Polk Street, and Avenue 60. The site is bordered to the south by Avenue 60, to the east by Fillmore Street, and to the west by Polk Street. The northern boundary of the site is located approximately 0.15 mile south of Avenue 57. To the west of the site is the Jacqueline Cochran Regional Airport. This airport is considered a regional facility and provides both public and private aviation services accommodating approximately 200 daily aircraft and 56 aircraft hangers. The airport is ultimately expected to accommodate 600 daily aircraft and 130 aircraft hangers. The major amenity nearby is the Thermal Club private race track which is a premium members-only circuit that offers luxury on-site living. Club membership requires the purchase of real estate at the Thermal Club. In addition, the initial costs of a standard membership and corporate membership are $85k and $200k respectively with approximately $20k per year in membership dues. The THERMAL 551 site is currently being used for agricultural purposes. In addition to actively farmed and fallow fields, two agricultural ponds and several dirt roads are located on-site. A shallow network of “farm drains” or “tile drains” were installed on-site. For future development use, the approved Specific Plan is unique in that it offers a wide range of housing opportunities as well as public and private recreational amenities. The residential land uses within the community provide high-quality, attainable housing options for a variety of family sizes and income levels, including young professionals and first-time home buyers. The community contains a maximum of 2,354 homes for the entire Specific Plan (2,190 homes for the subject property portion), which assists in meeting the expanding housing needs of the Eastern Coachella Valley. The THERMAL 551 neighborhoods include eight different product types, including both traditional and innovative styles such as rear-loaded homes, “Paired- Z” homes, courtyard homes, and townhomes, varying in density from 3.6 to 10.0 dwelling units per acre, with a gross density of 3.8 dwelling units per acre. Higher density housing types are located in the center of the community. THERMAL 551 also features rear-loaded and “Paired-Z” single family homes on 3,600 sf lots within Planning Areas 4 and 9. Single Family Detached and Single Family Attached homes are prominently located at the intersection of Avenue 59 and Street “A”. Other traditional housing types offered within THERMAL 551 include single- family units on 4,500 sf, 5,000 sf, 6,000 sf, and 7,200 sf lots. Lower-density neighborhoods are located close to the perimeter of the community. THERMAL 551 contains 124.9 acres of private and public recreational amenities, open space, and expanded parkways. The circulation system places attention on a 4.0-acre clubhouse area and the large 45.3-acre Public Park, which is comprised of Planning Area 22 (22.9 acres) and Planning Area 26 (22.4 acres). The Public Park features soccer fields, basketball courts, tennis courts, a baseball field, trails, tot lots, and a variety of other amenities. Located west of the Public Park is the clubhouse area, which serves as the central community gathering location, features a clubhouse building, workout center, a tot lot, a wade pool, and a swimming pool. According to Coachella Valley Association of Governments (CVAG) and the Southern California Association of Governments (SVAG), will increase the population of the Valley to an astonishing 884,000 by 2035. This projection is a 99.4% increase from the 2014 population of 443,401 people. The subject property is one of the only approved Specific Plans in the area to fill the void for the current and future immense demand.