IE Business Daily Business news for the Inland Empire.
Two major homebuilders have purchased parcels in Terramor, a master-planned community in unincorporated Riverside County.
The lots, part of the development’s first phase, were purchased by KB Home in Los Angeles and CalAtlantic Homes in Arlington, Va., according to a statement released today.
KB Home will build two neighborhoods that will total 170 two-story homes. They will range from 2,200 to 2,700 square feet and are expected to open this summer.
CalAtlantic Homes will build 105 homes for active adults. Those residences will range from 2,200 to 2,500 square feet, and are expected to open this winter.
Terramor’s first two neighborhoods, which will consist of 240 single-family homes for people 55 years old and older, are being built by Del Webb Community Homes. They’re expected to open later this year.
Five hundred and twenty of the 600 lots in Terramor’s first phase have now been sold, according to the statement
Terramor is being developed by Forestar Toscana Development Co. in Newport Beach. It will be a master-planned, resort-style community in Temescal Valley just south of Corona.
