15.1 +/- Acres | City of Jurupa Valley Within the Rio Vista Specific Plan OAK QUARRY GOLF CLUB SIERRA AVE ARMSTRONG RD RIO VISTA SPECIFIC PLAN N EXCLUSIVE OFFERING MEMORANDUM The THE HOFFMAN COMPANY BROKER CONTACT Hoffman SOUTHERN CALIFORNIA OFFICE CA BRE #01473762 Graham Gilles, CA BRE #01252103 ompany T 949.705.0914 | [email protected] C 18881 Von Karman Avenue, Suite 150 T 949.553.2020 | F 949.553.8449 Justin Esayian, CA BRE#01513596 Land Brokers Irvine, California 92612 www.hoffmanland.com T 949.705.0921 | [email protected] Realty Advisors DISCLAIMER The information contained in this offering material (“Brochure”) is furnished solely for the purpose of a review by prospective purchaser of any portion of the subject property in the City of Jurupa Valley, County of Riverside, California (“Property”) and is not to be used for any other purpose or made available to any other person without the express written consent of Scheel Dallape Inc. d/b/a The Hoffman Company Organization (“The Hoffman Company”). The material is based in part upon information obtained by The Hoffman Company from sources it deems reasonably reliable. Summaries of any documents are not intended to be comprehensive or all inclusive but rather only an outline of some of the provisions contained therein. No warranty or representation, expressed or implied, is made by Seller, The Hoffman Company, or any of their respective affiliates, as to the accuracy or completeness of the information contained herein or as to engineering or environmental matters. Prospective purchasers should make their own projections and conclusions without reliance upon the materials contained herein and conduct their own independent due diligence, including engineering and environmental inspec- tions, to determine the condition of the Property and the existence of any potentially hazardous material located at the site. This Brochure was prepared by The Hoffman Company. It contains select information pertaining to the Property and does not purport to be all-inclusive or to contain all of the information that a prospective purchaser may desire. All assumptions are provided for general reference purposes only and are based on assumptions relating to the general economy, competition and other factors beyond control and, therefore, are subject to material change or variation. In this Brochure, certain documents and other materials are described in summary form. The summaries do not purport to be complete nor, necessarily, accurate descriptions of the full agreements involved, nor do they constitute a legal analysis of such documents. Interested parties are expected to independently review all documents. This Brochure is subject to prior placement, errors, omissions, changes or withdrawal without notice and does not constitute a recommendation, endorsement or advice as to the value of the Property by The Hoffman Company or the Seller. Each prospective purchaser is to rely upon its own investigation, evaluation and judgment as to the advisability of purchasing the Property described herein. Seller and The Hoffman Company expressly reserve the right, at their sole discretion, to reject any or all expressions of interest or offers to purchase the property and/or to ter- minate discussions with any party at any time with or without notice. Seller shall have no legal commitment or obligation to any purchaser reviewing this Brochure or making an offer to purchase the Property unless a written agreement for the purchase of the Property has been fully executed, delivered and approved by the Seller and any condi- tions to Seller’s obligations there under have been satisfied or waived. The Hoffman Company is not authorized to make any representations or agreements on behalf of Seller. This Brochure is the Property of The Hoffman Company and may be used only by parties approved by The Hoffman Company. The Property is privately offered and, by accepting this Brochure, the party in possession hereof agrees (i) to return it to The Hoffman Company immediately upon request of The Hoffman Company or Seller and (ii) that this Bro- chure and its contents are of a confidential nature and will be held and treated in the strictest confidence. No portion of this Brochure may be copied or otherwise reproduced or disclosed to anyone without the prior written authorization of The Hoffman Company and Seller. Please be advised, Buyer acknowledges that The Hoffman Company Organization, may (1) act as an agent for more than one prospective Buyer on the subject property and/or (2) act as the agent for both the Buyer and Seller on the subject property. Any prospective Buyer requesting The Hoffman Company to submit an offer on its behalf acknowl- edges the foregoing disclosures and agrees to the described agency relationships with other prospective Buyers. The terms and conditions set forth above apply to this Brochure in its entirety. TABLE OF CONTENTS 1 Property Overview 4 2 Aerials, Maps & Photos 5-12 3 Area Overview 13-16 4 Market Overview 17-21 PROPERTY OVERVIEW 1 Site Detail Property Overview CFD The subject property is a 15.1+/- acre portion of the 918 acre Rio Vista Specific Plan be- There is currently no CFD on the property. ing developed by Richland Communities. The property is flat in nature, has great access and would allow for development independent from the balance of the Specific Plan. Property Condition The approved SP allows for up to 1,697 units and currently has a proposed plan for The subject property is in an unimproved condition 1,215 homes. The community has 20 neighborhoods, a community park, an elementary school and 658 acres of open space. The subject parcel is shown as Equestrian Center Topography in the approved SP which allows for equestrian related uses. In the proposed amended The subject property is flat with very little to no topography SP it is shown as Open Space - Recreational. The ciy has suggested that residential may be viable on the subject site. Environmental There are no known environmental constraints with the subject parcel. Location The site can be easily accessed from Rorimer Drive which dead ends into the site or via Zoning Armstrong Road which has direct access to the 60 Freeway. The property is located at Specific Plan - Equestrian Center & Trail Head the northern corner of Brenton Street and Rorimer Drive cross streets. Specific Plan update proposed - Open Space - Recreation General Plan Map - Medium Density Residential Municipality City of Jurupa – County of Riverside Asking Price Submit Assessor’s Parcel Number 175-080-021 and 175-080-022 General Terms of Sale/Feasibility 30 days from Purchase and Sale Agreement Current Approvals Rio Vista Specific Plan (SP) Close of Escrow Buyers should submit offers on either a quick cash basis or with entitlement time. Sell- Size er’s preference is a quick deal but will review all offers. +/- 15.1 acres Close of Escrow Entitlement Status All cash The Rio Vista Specific Plan No. 245 was approved by the Riverside County Board of Su- pervisors in 1992. The proposed Specific Plan Amendment No. 1 is currently in process. The Exclusive Offering Memorandum 4 15.1 +/- Acres | JURUPA VALLEY Hoffman Company AERIALS, MAPS & PHOTOS 2 Close Up Aerial LAUREN LN BRENTON DR MCLAREN LN GAIL DR ARMSTRONG RD RORIMER ST GILLAM ST SANDRA DR PALADORA LN N The Exclusive Offering Memorandum 5 15.1 +/- Acres | JURUPA VALLEY Hoffman Company AERIALS, MAPS & PHOTOS 2 Vicinity Aerial SUBJECT SITE N The Exclusive Offering Memorandum 6 15.1 +/- Acres | JURUPA VALLEY Hoffman Company AERIALS, MAPS & PHOTOS 2 Rio Vista Specific Plan ORIGINAL PLAN NEW PLAN RIO VISTA SPECIFIC PLAN Planning in the 21st Century Proposed Rio Vista Plan Highlights Reduces the amount of grading by 3 million cubic yards Smaller overall development footprint Preserves more of the natural features of the site (e.g. hillsides; i.e., more green spaces!) Reduces number of homes by about 480 homes (25% reduction) Expands the variety and diversity of home types to respond to market desires and avoid monolithic subdivisions New design guidelines will result in improved architectural styles reflective of current trends and styles Incorporates sustainable features and design (water and energy efficiency) Increases the number of parks and improves their accessibility 50% increase of usable parkland Increases open space by 239 acres (57%) Recognizes current stringent water quality requirements Sensitive to extreme drought condition Accommodates current requirements to al- low for a new school Expands buffers from existing neighborhoods Relates better to surrounding existing uses through context-sensitive design Positive Economic Impacts*: Produces $260 Million of direct effect on N N economic output Produces $85 Million of direct effect on in- creased wages within local economy Produces 2,646 construction-related jobs PROPOSED 2015 RIO VISTA LAND USE PLAN APPROVED 1992 RIO VISTA LAND USE PLAN Produces $4 Million in new revenues to City over 10 years * Rio Vista Economic Benefits Analysis, DPFG, 8-5-14 The Exclusive Offering Memorandum 7 15.1 +/- Acres | JURUPA VALLEY Hoffman Company AERIALS, MAPS & PHOTOS 2 Rio Vista Specific Plan Features RIO VISTA SPECIFIC PLAN Plan Highlights: Community Plan for the 21st Century 6 Community parks New elementary school Enhanced community buffers SECONDARY ENTRY Trail system through community and open space—over 10 miles! Reduced unit count by 25% Positive fiscal impact to City and local economy Preservation of natural features