Fontana Promenade

Fontana, San Bernardino County, CA

Just south of I-210 on Sierra Avenue

Fast Facts

Acquired
September 2010
Seller
Bank of America
Status
Approved Specific Plan and Tentative Tract Map, Final Engineering in Progress

Project Description

Forestar acquired a 65-acre parcel within the Fontana Promenade Specific Plan in the City of Fontana and re-entitled it for 376 single-family detached homes. A new medical center and existing full-service retail centers (Home Depot, Costco and Lowe’s) are located just north of the property.

Background

The property was formerly owned by a local builder and was part of a larger mixed-use master plan approved by the City of Fontana. Bank of America foreclosed on the property and then marketed the REO. Forestar was attracted to the property because of its macro location, its large size, strong political and staff support and the fact that all off-site development required for the site was already completed.

Value Added

The original approvals for the property were for more than 700 attached units and a nine-acre mixed-use (podium residential over retail) district. Because there was no market in Fontana for this level of density, Forestar worked with the city to revise the Specific Plan to accommodate an attractive highly amenitized residential development with a mix of smaller single-family detached homes. Forestar renamed the community Bella Strada to reflect the tree-lined beautiful streets that form the backbone of the community. In Forestar’s redesigned plan, the community is designed around a central park with a pool and clubhouse. Forestar sold Fontana Promenade/Bella Strada to D.R. Horton.

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