Fontana Promenade

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.

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, large size and strong political and staff support all off-site development required for the site was already completed.

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 at the time 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 beautiful tree-lined 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, and all 376 of the homes have been built and sold.