An actual property funding agency and a house builder have acquired Marja Acres, a 20-acre parcel in Carlsbad that’s set to grow to be a mixed-use neighborhood.
Floor has been damaged on the web site, bought by IHP Capital Companions in Newport Seashore and KB House in Los Angeles. The mission will embrace 248 three-story townhomes, 10,000 sq. ft of business area and 46 items of inexpensive housing for adults 55 years of age and over.
The infill neighborhood, on the positioning of a former nursery, can pay homage to the property’s agricultural historical past by means of its identify whereas offering facilities corresponding to a daycare, 2,000 sq. ft of area for native eating places, parks and a neighborhood middle.
IHP and KB House will develop the mission collectively, finishing the positioning’s infrastructure and developing the townhomes. The inexpensive flats will likely be accomplished by USA Properties at a later stage of the mission.
Grading for the townhomes is at present underway with mannequin dwelling development deliberate to start out late this yr, and residential gross sales anticipated to open in 2023. House costs have but to be launched.
“Marja Acres will likely be a singular, mixed-use neighborhood reflective of Carlsbad and the encompassing space’s native character,” stated Jeff Enes, senior vp at IHP Capital Companions, who additionally famous his agency’s “30 years of expertise entitling and creating in California.”
The mission, positioned at 4901 El Camino Actual between Kelly Drive and Cannon Street, will embrace houses with kitchens overlooking massive nice rooms, bed room suites with walk-in closets and space for storing.
The three-story townhomes will supply two design types, fashionable farmhouse and up to date. The 121 fashionable farmhouse townhomes will function three flooring plans with as much as three bedrooms, at round 1,700 sq. ft.
The 127 contemporary-style townhomes will supply three flooring plans with as much as 4 bedrooms, ranging in dimension from 2,000 sq. ft to 2,350 sq. ft.
The mission encompasses a one-and-a-half-acre village inexperienced, 4 pocket parks, a canine park and neighborhood middle with a pool, barbecue space and bocce ball courtroom.
“KB House is happy to be partnering with IHP Capital Companions to develop our new Marja Acres neighborhood. This well-designed, mixed-use neighborhood will supply homebuyers a uncommon alternative to personal a brand new dwelling with quite a few facilities in a picturesque Carlsbad setting,” stated Steve Ruffner, president of KB House’s Coastal division.