Description

Pleased to present the opportunity to acquire a prime 4-acre development site located at the signalized southeast corner of Foothill Boulevard (Historic Route 66) and Locust Avenue in Fontana, California. The land is zoned R-5 (High Density Residential), in which the site permits multifamily, condominium and mixed-use development. By right, developers can construct 159-200 units (equates to 39-50 units per acre) with a maximum height of 55 feet. Developers may further leverage Californias Density Bonus Program allowing for an additional 20 percent increase in unit count when incorporating affordable housing. Strategically positioned, the property offers excellent visibility with approximately 295 feet of frontage on Foothill Boulevard and approximately 590 feet of frontage on Locust Avenue. Utilities are readily available with water and sewer service from the city of Fontana, electricity provided by Southern California Edison and gas by Southern California Gas. The city of Fontana is one of the fastest-growing cities in Southern California with a population of approximately 215,000 residents (2023). In addition, there are over 374,600 residents that live within a five-mile radius of the property and this population is projected to grow by 1.5 percent before the end of 2029. Fontana is a powerful hub for manufacturing, logistics and transportation, home to numerous Fortune 500 distribution centers and regional employers driving strong economic growth. Residents within a five-mile radius of the property earn an above-average household income of $100,697. Notably, the property

Features