IE Business Daily Business news for the Inland Empire.
The final 83 lots in the first phase of Terramor, a master-planned community being developed in Temescal Valley south of Corona, have been sold.
Van Daele Homes bought the lots for an undisclosed sum and will develop upscale homes on those parcels, according to a statement released by Foremost Cos., the project’s master developer.
All 600 lots in Terramor’s first phase have been sold. Van Daele’s project, Oakton, will be single-story homes with optional second-floor decks. The houses will range from 2,400 to 3,200 square feet.
Oakton will be the sixth neighborhood completed in Terramor and the fourth meant exclusively for people 55 years old and older. Terramor will be built in three phases and will have more than 1,400 single-family homes in 16 neighborhoods when it’s finished, according to the statement.
Van Daele Homes is a subsidiary of Van Daele Development Corp. in Riverside. Foremost Cos. is a residential land developer in Newport Beach.
