MORENO VALLEY, CA-The Empire Cos. has kicked off construction on the fourth phase of the Ontario-based development firm's 168-unit Aspen Hills at Moreno Valley Ranch townhouse project. The lake-view townhomes are being built by Empire's Prestige Homes business unit.
The Aspen Hills development features four different floor plans ranging from 1,325 sf to 2,101 sf. The average price of a comparable townhome in Moreno Valley is approximately $315,000, and when all phases of the Aspen Hills development are completed, the Empire Cos. townhomes are expected to sell for $280,000 to $365,000.
Paul Roman, vice president of operations for the Empire Cos., points out that the townhouses are located within walking distance of shopping, schools and local businesses. They feature nine-foot ceilings, European-style cabinets, recessed lighting, interior laundry rooms with gas service for dryers and large walk-in closets.
Prestige Homes is one of a number of business units of the Empire Cos. Among the company's other business units are Empire Land, Empire Residential sales of Arizona and Empire Commercial Real Estate.
Empire Land acquires and develops master-planned communities and sells the lots to publicly traded homebuilders, while Empire Residential sales of Arizona develops land or purchases lots and then builds and sells homes in Arizona.
Empire Commercial Real Estate builds office, shopping center and multifamily projects, mainly in the Inland region of Southern California. However, the business unit is expanding to include Northern California and Arizona.
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to asset-and-logo-licensing@alm.com. For more inforrmation visit Asset & Logo Licensing.