SFR Community Development Opportunity

Prime Residential Development Area with Nearby sites that are approved and building. (See MoValley Development Map published 2021 below). This is zoned RA2, so you would be able to build large entry level homes - 2 per acre - or try to increase the density in Jan. 2022.
On September 16, 2021, Governor Gavin Newsom signed bipartisan legislation intended to expand housing production in California, streamline the process for cities to zone for multi-family housing, and increase residential density, all in an effort to help ease California’s housing shortage. The suite of housing bills includes California Senate Bill (“SB”) 8 (Skinner), SB 9 (Atkins), and SB 10 (Weiner). Each of the bills will take effect on January 1, 2022. Some have characterized the bills as “the end of single family zoning.” In practice the results may be more nuanced, but the net effect will be to allow significantly more development of housing units “by right.”
(Buyer is to investigate and perform due diligence on all zoning and use permits)
The three properties are located north of Interstate 60 at the corner of Petite and Juniper Ave, in Moreno Valley, California. In total, they are 17.95 Acres with relatively flat topography. Immediately north and south of the properties are low density residential that are zoned R2 for two dwelling units per acre. To the east and west of the properties are primarily vacant lands and south of the property is a church occupied by Calvary Chapel. Potential to increase density in 2022, or change use
The subject property lies just under one mile to the North of Interstate 60. The property is about eight miles east of Interstate 215, 14 miles west of Interstate 10, and 6 miles north of Lake Perris State Recreation Area. Interstate 215 provides easy access to San Bernardino and Los Angeles Counties to the North, and San Diego County to the South. MoValley has recently amended their General Plan 2040 to fit recent density laws. Timeline is 9-12 months for planning board review. Team is in place for entitlement, but sellers are not in field and older, so they want to sell as is. Budget for entitlement City fees $30,000 Soil/Environmental Fees $30,000 Architect $50,000 Civil Engineer $135,000Retainer Fee $10,000 + 7% invoices
Water Company Unknown until there is a discussion to clarify between sewer pipes vs. septic tanks
Great to hold and sell after entitlement or
Great for builder to do own entitlement