Countryside

Ontario, San Bernardino County, CA

Located in first phase of New Model Colony, south of the 60 freeway, west of Archibald Avenue and south of Riverside Drive

Fast Facts

Acquired
April 2010
Seller
Levine Investments
Status
Approved Specific Plan and Tentative Tract Map, Final Maps Ready to Record

Project Description

Countryside is comprised of three parcels totaling 80 acres in the New Model Colony area of the City of Ontario. Countryside is approved for 461 lots and will be one of the first master plans developed within the New Model Colony. The community will feature a neighborhood park and it is across the street from a regional park and adjacent to full-service shopping centers.

Background

Levine Investments acquired the property in a land-banking arrangement for Meritage Homes. After Meritage did not exercise their option, Forestar purchased the property from Levine. The tentative tract maps had expired and the consortium of builders and developers (New Model Colony Builders) that was formed to finance and build regional infrastructure was at a standstill. Forestar was attracted to the property because of its macro location, its large size and the fact that it was the only property in the entire New Model Colony area that was adjacent to all utilities and roads necessary to serve the first phase of development. Forestar subsequently acquired the adjacent Hughes parcel, which will benefit from the same infrastructure improvements.

Value Added

Before closing on the property, Forestar negotiated with Levine and Meritage to obtain the necessary rights to become a member within the New Model Colony Builders consortium. Forestar processed new tentative tract maps and a development agreement in less than a year. As part of the agreement, Forestar secured the right to develop the first phase of lots from the city’s existing water line, which is adjacent to the property. Forestar is continuing to work with the city and the New Model Colony Builders consortium to ensure that the limited off-site infrastructure necessary for future phases of Countryside will be developed at the earliest opportunity.

Our Values

Excellence In Everything We Do
Integrity In The Conduct Of Our Business
An Environment Of Teamwork And Trust
The Value Of Each Employee
Commitment To Our Partners And Customers
The Importance of Profitable Operations