Ronald Meer, the founder, president and CEO of the company, tells GlobeSt.com that Meer Capital was attracted to the site by the strong supply-demand fundamentals of the area, as well as the cooperative nature of Ontario officials, who "were extremely encouraging and are working very hard to attract quality developments."

The site is entitled for either single-family or multifamily development, Meer says, but "We don't know at this point which one we're going to do." No timetable has been set for the development. Meer's development would join a growing list of housing projects in the Inland Empire, both single-family and multifamily, but it would be one of the few new housing developments in the city of Ontario.

"There's really not much going on in residential either multifamily or single family, until the New Model Colony (a project planned by the Lewis Group) kicks in, and that's still a few years away," Meer says. His firm's project will be one of the largest residential developments in the city until the New Model Colony gets under way.

Meer's firm specializes in multifamily, mixed-use developments and land development, primarily in California, Nevada and Arizona.