Terracina is a 151-acre community, planned to consist of 380 single-family homes within the highly desirable, northern segment of the City of Lake Elsinore, California. The community consists of four neighborhoods and provides the opportunity to simultaneously deliver several complementary housing types that appeal to a variety of family profiles, life stages, and affordability levels.
Terracina is being offered in time to help mitigate against a significant forecasted reduction in community count within the Lake Elsinore market. Of the 15 active neighborhoods within the competitive market area, all but five are projected to be sold out within the next 12 months. Canyon Hills, which has been one of the Inland Empire’s strongest selling master plans for more than a decade will also be virtually sold out, with only one remaining neighborhood. There are limited other entitled alternatives within the CMA to augment community count replenishment and accommodate existing homebuyer demand. Terracina is projected to provide home deliveries beginning in 2019 and is forecasted to generate total revenue in excess of $155MM over the life of the build-out.