GLENDORA, CA—City Ventures is assembling five land parcels, totaling 8.76 acres, to build a 144-attached-townhome development in Glendora, CA. The developer has closed on the acquisition of the first land parcel, and will close on the remaining plots throughout the year.

“The mirror image of the proposed project is located directly north, on the other side of Park View Terrace,” Albert Shilton, senior managing director at Charles Dunn Co., tells GlobeSt.com about the developer's interest in the area. “The property has strong re-sales and provided clear evidence of the demand for new townhomes in the surrounding area.” Shilton represented City Ventures in the transaction, and is leading the brokerage services for the firm on each of the five parcels.

Located at 641 E. Foothill Blvd. in Glendora, the first land parcel to close is 4.07 acres. City Ventures purchased the plot for $5.75 million. In 2013, the parcel was rezoned for residential development, making this project a possibility. A vacant industrial building currently sits on the site, but will be demolished to make way for the development once the other parcels have been purchased.