Phase I of the Leal Ranch Property Closes Escrow and is Now Owned by The New Home Company!
EASTVALE, CA – We are excited to announce that Phase I of Downtown Eastvale (formerly the Leal Ranch Property) closed escrow and is now owned by The New Home Company! Phase I of Downtown Eastvale includes our future Library, City Hall, Police Station, amphitheater, up to 495,000 of the 595,000 square feet of retail/commercial space, up to 802 homes, and parks.
The New Home Company is committed to the growth and prosperity of the City of Eastvale by bringing together a magical destination for residents and guests. The future downtown will serve as an economic catalyst for the community by welcoming new businesses and employment opportunities for Eastvale.
“With the close of escrow on the Leal Property, we are excited to get to work on the planning for Downtown Eastvale! said Mayor Clint Lorimore. As a destination location, Eastvale’s Downtown will be a place for the community and region to come together to enjoy new dining options, retail, entertainment, and our very own Civic Center!”
In December of 2017, the City of Eastvale adopted the Leal Master Plan and certified the Program Environmental Impact Report (PEIR) to facilitate the development of the Leal property, which is approximately 158.6 acres in size. The Leal Master Plan establishes Eastvale’s vision to create a dynamic, distinctive downtown with mixed-use, retail, office, hotel, housing, public spaces, and a civic center.
In 2021, the property owner entered into escrow with the developer, The New Home Company, to purchase the land and develop the site as a comprehensive, integrated community. Earlier this year, the City Council approved a Development Agreement between the City of Eastvale and The New Home Company for a 20-year term. With the development agreement, 495,000 square feet of the retail/commercial space will be City controlled and operated.
Businesses interested in leasing opportunities should contact economicdevelopment@eastvaleca.gov.
