Meadowlark Home Development Site Trades Hands

Developer D.R. Horton has acquired the Meadowlark land site in Riverside from American Property Enterprises and Western Residential Opportunity Fund. The property is fully entitled for 83 townhomes at affordable prices, starting in the $300,000 range.

The project will feature attached, two-story townhomes. The homes will include two-to-four bedroom floor plans, ranging in size from 1,132 square feet to 1,584 square feet. The price point will be well within the Federal Housing Administration’s new $431,250 loan limit for Riverside County, which can help borrowers who are unable to make large down payments.

Justin Esayian, SVP with the Hoffman Co., brokered the sale.