Irvine, CA -- (ReleaseWire) -- 02/02/2015 --Shopoff Realty Investments announced today that a 2.36-acre former mobile home park will be developed into a luxury townhome community after receiving approval by local City Council Jan. 21. Located in southern Oceanside, Calif., near Buccaneer Beach and Sprinter Station, the project was unanimously approved by Oceanside's Planning Commission on November 4, 2014.
Situated on the northeast corner of Morse Street and Pacific Coast Highway, the development will include 38 three-story townhomes, elevated to allow for panoramic ocean views. Each unit is designed with an individual entry and private patio or balcony. Units range from 1,581 to 1,851 square feet and include two-car garages.
"We are pleased to have received approval to develop this site with a design that is in harmony with the neighborhood," said William Shopoff, president and CEO of Shopoff Realty Investments. "I appreciate the effort and input by our neighbors and city staff, as well as the members of the planning commission and city council who worked with us throughout the process."
"Our team has worked very hard to make sure we were presenting the best site plan for the community," said Shopoff Realty Investments' Vice President, Development Brian Rupp. "With a contemporary architectural style and substantial landscaped areas these high end townhomes will be a great addition to the neighborhood."
Planning Commission Chairman Robert Neal indicated, "We try to get upscale projects, and this is one of them."
About Shopoff Realty Investments
Shopoff Realty Investments has a 22-year history of over 100 programs and 430 investments, of which more than 400 have gone full cycle with an average holding period of 2.7 years. Shopoff Realty Investments and its executive leadership have completed more than 5,000 real estate transactions, including the acquisition, management, entitlement and development of more than 10,000 parcels and lots, 50,000 multifamily units, and 5 million square feet of commercial properties, with an aggregate value in excess of $4 billion. For additional information, please visit http://www.shopoff.com or call (844) 4-SHOPOFF.
Disclosures
Any investment in Shopoff Realty Investments programs involves substantial risks and is suitable only for investors who have no need for liquidity and who can bear the loss of their entire investment. This is not an offering to buy or sell any securities. Such offer may only be made through the offerings memorandum to qualified purchasers. Securities offered through Shopoff Securities, Inc. member FINRA & SIPC, 2 Park Plaza, Suite 700, Irvine, CA 92614, (844) 4-SHOPOFF.
