IHP Capital Partners has announced the acquisition of 4.9 acres of unimproved land in Escondido for the development of 113 three-story townhomes.
IHP partnered with California West Communities in their eleventh joint venture to bring the new community, named Eclipse, to north inland San Diego County. The project is IHP’s sixth equity commitment in 2020.
The residences at Eclipse will range in size from 1,143 to 1,578 sq. ft. Floorplans will feature two to four bedrooms and a two-car, direct access garage. Unique from other actively selling or recently built for-sale multifamily developments in the area, 29 of Eclipse’s townhomes will offer four-bedroom layouts. Further, 54 (48%) of the townhomes are end units, providing ample natural light via windows and doors on three sides of the home.
Amenities within Eclipse include a recreation center with a swimming pool and jacuzzi in addition to a tot lot. The community will feature several landscaped open spaces throughout. Eclipse’s recreational area will be completed in the initial project phase with the model homes and the first stage of construction, allowing prospective buyers to view the community amenities while touring the residences.
The project is currently in the early stages of development with groundbreaking planned for the first quarter of 2021.
Eclipse is located at the southwest corner of Brotherton Road and Centre City Parkway (State Route 15), a main thoroughfare that leads to downtown Escondido. The property is within an established suburban residential area accessible to local restaurants and retail amenities. It is also less than one mile east of the Interstate 15 Citracado Parkway onramp.
IHP and California West Communities also partnered in the development of Skyhaus, a 100-townhome community located in the Rancho Tesoro master plan in San Marcos.