Chino Hills, San Bernardino County, CA
Located off Carbon Canyon Road near the Orange County border
Canyon Hills is a 141-acre property with a recorded final map for 76 lots in the City of Chino Hills in San Bernardino County. The land plan is designed around the rolling topography and native oaks to optimize open space and view premiums. Chino Hills is one of the best markets in the Inland Empire, boasting outstanding schools and one of the highest median household incomes in the country. The property is within easy commuting distance of Orange County, Los Angeles County and the Ontario airport.
The previous owners of Canyon Hills spent more than 10 years and millions of dollars planning and entitling the property. When the market crashed, they were motivated by the ability to carry-back tax losses from the sale of the property. Forestar closed on the property less than one month after signing a letter of intent.
The main impediment to developing this property was the lack of sewer service in this part of Chino Hills. However, a nearby project recently extended a sewer main and built a pump station that is sized to serve Canyon Hills. In addition, Forestar enhanced the value of the property by adding a gated entry and extending water and sewer lines to the property. Forestar sold the property to Woodbridge Pacific Group.