Adler Ranch to provide affordable rental housing
From left: Todd Cunningham, Woodbridge Pacific Group; Carl Neuss, Woodbridge Pacific Group; Jon Robertson, Woodbridge Pacific Group; Thomas ...
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MENIFEE -- Tricon Residential Inc., Foremost Pacific Group, and Woodbridge Pacific Group companies celebrated the groundbreaking of Adler Ranch, a 303-unit community of modern contemporary single-family homes in Menifee, last week.
Adler Ranch is the second of Tricon’s two new, purpose-built, single-family rental home communities in the Inland Empire. In addition to representatives from the developer and project contractor, several Menifee city officials were in attendance, including Mayor Bill Zimmerman.
It was an honor for Mayor Zimmerman to welcome the Developers and perform the ceremonial groundbreaking to symbolize the beginning of a new stage of development for the city.
“Affordable housing is one of our top priorities in Menifee and this is a key project that begins to meet our housing needs,” said Zimmerman. “These gorgeous homes will form
a new, family-friendly community located in Menifee, conveniently situated near parks,
shops, and schools.”
"We are excited to commemorate this project milestone on Adler Ranch with our partner ForemostPacific Group and Woodbridge Pacific Group," said Josh Welty, Vice President of Development for Tricon Residential. "Today’s groundbreaking launches new single-family rental homes and creates additional housing in California through a highly desired product in purpose-built rental communities.
“Adler Ranch is designed for individuals and families who desire the benefits of living in a single-family home and prefer the convenience and flexibility of a rental lifestyle. By providing residents an exceptional maintenance-free experience, they will have more time to spend on what is mostimportant to them."
Located at the corner of Antelope Road and Craig Avenue, Adler Ranch will feature 303 modern
contemporary single-family homes with three- and four-bedroom options, state-of-the-art technology, and outdoor amenities, including gated community, junior Olympic lap pool, picnic pavilion with BBQs, event room with prep kitchen, covered cabanas, and dog park.
In addition, Adler Ranch homes will include energy-efficient, stainless-steel appliances, attached two-car garages, keyless front door entry, solar panels, and fenced backyard. Development of the community is expected to progress through 2022, with a Grand Opening planned for early 2023. The community is conveniently situated near parks, shops, schools, Mt. San Jacinto College and the I-215 Freeway that easily connects to Temecula.
“We are thrilled to partner with Tricon Residential on our second build-to-rent community,” said Steve Cameron, Principal of Foremost Pacific Group. “This project will provide new options for Riverside County families.”
Adler Ranch is part of Tricon's previously announced build-to-rent pipeline of 3,000 new build-to-rent homes across 23 communities. Tricon Residential will operate Adler Ranch upon completion of construction. The project developer is Foremost Pacific Group and general contractor is Woodbridge Pacific Group.
Menifee does not need affordable homes for rent.Not good for the Homeowners of Menifee.
ReplyDeleteThis is disappointing, Menifee allowed a company like tri-con to come in a build these rental properties spinning it as a positive but the CEO of tri-cons favorite line is "you can rent the American dream" and "Millenials don't necessarily want to own homes", it's sickening. Blackrock and Tri-Con are trying to make renters out of Americans so they can keep the endless money flowing into their own pockets! this is beyond sickening and a shame that a project like this was approved here in Menifee.
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