IE Business Daily Business news for the Inland Empire.
An Irvine-based homebuilder and land developer has begun work on a major project in Eastvale.
New Home Co. recently started construction of Eastvale Square, which will be made up of nearly 2,000 homes immediately west of Interstate 15 in the middle of the city, according to a statement.
The project, which New Home predicts will pump about $1 billion into the local economy, will include a new city civic center, police and fire stations, a public library, and hundreds of thousands of square feet of office and retail space.
“Eastvale Square represents a new and progressive vision for the future in Southern California,” said Matthew R. Zaist, New Home Co.’s chief executive officer, in the statement. “In terms of local-market share, capital investment, and overall importance to the future of the Eastvale, this is the most significant development we’ve ever done.
New Home Co., builds houses and townhomes in California, Arizona, Colorado, Oregon, Washington and Texas. It bought the land for Eastvale Square from the trusts of a local family whose name was not released.
Eastvale Square will have five-neighborhoods that will include townhomes, flats and detached residences. Prices will start in the $500,000’s.
New Home will open an on-site gallery and begin sales in September, according to the statement.
