Shopoff Realty is making another housing play in Orange County.
The Irvine-based developer has secured approvals to develop an 18-acre plot of land in Fountain Valley into mixed-income housing, Urbanize Los Angeles reported. The Euclid + Heil development, located at 16300 Euclid Street, is being developed in partnership with National CORE and Lennar.
Euclid + Heil will include 304 market-rate apartments as well as 83 affordable units for senior citizens, the latter of which will be fulfilled by National CORE, one of the largest nonprofit affordable housing developers in the United States. In addition, it will include 36 two-story, for-sale triplexes and 183 three-story, for-sale townhomes.
Amenities will include swimming pools, parks and play areas. Landscape architect CDPC and architecture firm AO make up the project design team, according to Urbanize.
“As California continues to tackle its housing shortage, we believe the addition of this project and its diverse product mix may benefit the greater community for generations to come, offering both for-rent and for-sale product in a supply-constrained market,” Shopoff President and CEO William Shopoff said in a statement, per Urbanize.
Grading in preparation for construction is expected to begin late this year with the goal of the rental portions opening in summer 2028. The for-sale homes will be completed in phases, the first of which is expected to arrive in summer 2028 and rolling out over the next year with the final phases opening in spring 2029.
Elsewhere in Orange County, Shopoff is planning a redevelopment project at the Westminster Mall in the city of Westminster. In 2022, Shopoff spent $95 million for a 26-acre portion of the mall property with the plan to turn the Macy’s, former Sears space and an adjacent parking lot into a multiuse development with commercial and residential tenants.
The so-called Bolsa Pacific project would add 1,065 rental units and 102 townhomes as well as a 175-room hotel and 25,000 square feet of retail space to the site. It would also have 2.5 acres of green space complete with an amphitheater, dog park, pickleball courts and food kiosks.