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In October 2010, Mission Pacific acquired Legacy Park, a 109-acre infill property located in Moreno Valley, in an REO sale from an affiliate of a large national bank. The property is conveniently located within three miles of both Highway 60 and Interstate 215.
The property naturally divides into two phases. Phase I ("Legacy 140") contains 140 graded lots (7,200 square foot minimum) with a recorded final map on roughly 34 acres. Phase II ("Legacy 75") contains 74.89 raw acres with R-5 zoning (du/acre) allowing up to 371 units.
Mission Pacific anticipates holding the property for three to five years while the market improves. During the holding period, Mission Pacific will revise and obtain approvals for the Legacy 140 improvement plans, obtain a tentative map on the 75 acres and value engineer both properties.