Walton, an international real estate investment and land asset company with US$3.39 billion under management and administration, has entered into an option agreement to sell 217 homesites to homebuilder D.R. Horton in the Escondida Pointe community.
The option agreement is structured as a phased takedown with quarterly lot closings. As of early May 2020, 25% of the residential lots have sold. Escondida Pointe is located at 53-954 Shady Lane, Coachella.
D.R. Horton is building homes from its Express Homes brand in Escondida Pointe. Homes start in the low $300s and offer two-story floor plans featuring covered porches, open great rooms, upstairs laundry rooms and sliding glass doors showcasing the area’s scenic mountain views.
Home sizes range from approximately 1,378 to 1,874 square feet with up to four bedrooms and a loft. Detailed floor plans are available on D.R. Horton’s community webpage at: https://www.drhorton.com/california/inland-empire/coachella/vista-escondida
“We are excited to be working with D.R. Horton on this desirable new-home community,” said Ed Hadley, Senior Vice President, West Region for Walton. “With the sale of the Escondida Pointe community now underway, we are focused on structuring deals on the other land assets we have under management in Riverside County.”
Known as the “City of Eternal Sunshine – Gateway to the Salton Sea,” Coachella is 28 miles east of Palm Springs. With a population of approximately 45,500, Coachella is home to young, rural and family-oriented residents. Known for one of the most famous music festivals in the world, Coachella also features community parks, variety of dining and colorful art displays including the Coachella Walls painted by local artists that celebrate the city’s people and history.