Legacy Park, Moreno Valley, CA
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.
At the time of purchase, the property naturally divided into two phases. Phase I ("Legacy 140") contained 140 graded lots (7,200 square foot minimum) with a recorded final map on roughly 34 acres. Phase II ("Legacy 75") contained 74.89 raw acres with R-5 zoning (du/acre) allowing up to 371 units.
Mission Pacific has revised and obtain approvals for the Legacy 140 improvement plans, and has sold the tract to a residential home builder. In addition, Mission Pacific sold 21 acres of the Phase II property to Walmart.
Mission Pacific has processed a new tentative map and general plan amendment for the remaining 54 acres of Phase II for a 221 single family home development.