Valencia New Construction Update

This month's Valencia broker meeting included commercial as well as residential real estate updates.

The much-awaited villages including Newhall Ranch, West Creek and West Hills will be mostly condos and townhomes, so those looking for new-construction single family homes in the Valencia area will likely be disappointed. Look for growing traffic congestion as these high-density developments arrive.

• Valencia Town Center expansion will include a 300-seat Comedy Club as well as another anchor store, possibly Nordstom's. Robinson-May will be converted to a Macy's shortly.
• Bridgeport Marketplace will soon be boasting a new upscale Bristol Farms market.
• West Hills and West Creek developments will include paseos and a bridge over Copperhill drive. West Hills will include mostly single family residences and apartments and is expected to start pre-sale in August 2007. West Hills will be mostly small to medium footprint homes with some larger homes and will be partially gated. West Creek will include about 2100 homes and will be mostly townhomes and condos and is expected to start pre-sale in early 2007. No pricing estimates have been released yet. Lennar companies will be the predominant builders. Lennar will also build the new West Creek elementary school as part of this development.
• River Village (formerly River Park) will include about 1000 homes, some single family and most condos and townhomes. The single family homes will be built first and some will be gated. The main entrance to this development will be from the Bouquet Canyon Rd side. There will be about 400 live/work homes with a combination of retail below and residential above. Final approval for this development has not been received yet, and Lennar will continue grading unless a restraining order is issued.
• Soledad Village has been renamed to Piazza Metro and is expected to start pre-sale in late 2007 at the earliest, but more likely early 2008.
• Newhall Ranch development will bring 19,000 new jobs to the area as well as 10 neighborhood parks, trails, a private golf course and up to 5 elementary schools, 1 junior high and a high school as well as 3 fire stations, a library, a sheriff's station and a metrolink station. Newhall Ranch will extend almost to the Ventury County line, so some of the commuter traffic is expected to go in that direction rather than towards the I-5 corridor.
• Landmark Village will be the first residential area to be developed in Newhall Ranch, and it will be on the south side of the 126 with 1400 homes expected to be available for pre-sale in late 2008.
• Entrada will be off Magic Mountain Pkwy and will in fact surround the Magic Mountain theme park area. There will be commercial and office space along The Old Road and the Chevron station will be moved back in order to expand The Old Road to accomodate more traffic flow. This development will back to the Westridge area. This development will include 3200 homes, mainly attached homes, and will start pre-sales in 2012.
• Mission Village will be the core of the Newhall Ranch development and will have a main street and a live/work environment much like the Valencia Town Center area. There will be 5330 homes, and only a small portion of these will be detached. Pre-sales of these homes is expected to be in 2009-2010.
• Homestead will have 5700 total homes, and only 800 of those will be single family homes. These will be available for pre-sale in 2011-2012. This development is also supposed to include a lot of open space areas.
• Portrero will be the largest village in Newhall Ranch and will include 8250 total homes, including a possible active adult community. This area is considered to be the gateway to the high country area with bike trails, a visitor center, and a 4200 acre natural area. There will be a golf course in this area and some large homes and estates. Pre-sale of these homes is expected in 2014-2015.
• Stevenson Ranch Phase 5 will be completed by Lennar and will be called Legacy. This will include 3400 homes, including an active adult community, and pre-sales are expected to begin in 2012. Valencia Blvd will be extended and connected to Pico Canyon Rd as part of the development process.
• The City Walk style development that has been proposed for the Magic Mountain entrance area has not been approved yet, so it's unclear whether that will be developed or not.

If you'd like more information or updates on this project, please contact me and I'll send you an email any time there's an update!