The Big Project Shaking Up Santa Clarita

The first high-end apartment community of scale in more than a decade is on its way to the rapidly growing Santa Clarita market. Developer JPI has broken ground on Jefferson Vista Canyon, a 480-unit, 430,524-square-foot apartment community in the Vista Canyon master plan from JSB Development. The project is set to shake up the market, which has seen little new development of this caliber but increasing demand for housing. Jefferson Vista Canyon is scheduled of delivery in 2020.

“We really wanted to provide new, high-end apartment homes that offer first-class amenities and convenient access to public transportation within a highly walkable mixed-use master plan community,” David Potter, VP and development manager at JPI, tells GlobeSt.com. “The project also partners well with the city’s vision of creating a vibrant and sustainable mixed-use neighborhood.”

Santa Clarita’s strong demographics and proximity to Los Angeles have helped to fuel demand for multifamily product, but the relatively low development activity has created pent-up demand. “We have seen very little development of this size and scale over the past decade in this submarket,” Rosie Cooper, SVP and regional development partner at JPI, tells GlobeSt.com. “The demand drivers in this submarket are similar to the demand drivers in this market as a whole. There are great demographics, strong employment growth and strong income growth and then specifically to this site, we think there will be demand for access to public transportation, strong amenities and the proximity to downtown, which we believe is attractive. Santa Clarita has a small-town feel with the sophistication of a larger urban center with the proximity to Los Angeles.”

The lengthy entitlement process is the chief reason that new construction hasn’t been ample in this market. “In California the entitlement process takes a long time. The Vista Canyon Master Plan began the approval process in 2007, and they didn’t finish until 2011, so it is time consuming,” adds Cooper. There is healthy community support for the project, along with a unanimous vote of approval from the city council.

The is JPI’s third project in Santa Clarita since the early 2000s, so it has a thorough understanding of the market and the entitlement process. “The community response to the entire master plan has been very positive. JPI isn’t new to Santa Clarita,” explains Potter. “We have been part of this community since the early 2000s when we built two apartment communities there. We were certainly excited and honored to be part of the city’s impressive growth.”

Jefferson Vista Canyon will have a mix of studio and one-, two- and three-bedroom apartments, and access to the ample Vista Canyon master plan amenities, including resort-style swimming pools, a fitness center and clubhouse. “We are looking at first occupancy in the second quarter 2020,” says Potter. “We are a little early from having specific leasing expectations, but with the positive feedback, we are very optimistic.”