The Arantine Hills master-planned project in the City of Corona continues to move closer to reality. The project went under contract with The New Home Company in the 4^th quarter of 2013 and is expected to close in December of this year. The New Home Company entered a joint venture with Tricon Capital Group, a Canadian real estate investment company, to provide acquisition financing and develop the community. They intend to re-plan and re-entitle the 276-acre project to include 1,300 homes, parks, and open space. They expect to break ground in 2016 to begin selling lots and new homes.

LAO is looking forward to a successful consummation of the transaction with The New Home Company and are very pleased in their efforts to develop this exciting new community in Corona.

Related links:

Wall Street Journal

The New Home Company Announces Planned Acquisition of Master Planned Community in Southern California

Press Enterprise

Corona housing development back on the drawing board