Stratford Ranch, Perris, CA
Stratford Ranch is a 400 + acre mixed-use development located near Lake Perris adjacent to Ramona Expressway. The Ranch was purchased in 2004 by a partnership managed by the Mission Pacific principals. The partnership immediately addressed significant developmental constraints, including the need to acquire more than three dozen small "window parcels" scattered within the Stratford Ranch property. Mission Pacific principals were able to entitle and sell nearly 100 acres of property to two separate homebuilders, returning the original invested capital to its partners. These strategic sales significantly reduced the risk associated with holding a large property through the market downturn.
Mission Pacific continues to manage the project and is solving the complex and multi-jurisdictional developmental issues facing the balance of the Stratford Ranch, which includes residential and industrial uses. The development issues include the widening and realignment of a major regional storm drain, the creation of two major detention basins, and the design and widening of the state's Lake Perris emergency run-off channel.
Mission Pacific sold the industrial component containing 93.5 acres to IDI in July 2013. In addition, Mission Pacific has obtained approval of two tentative tract maps containing a combined 360 6,000 square foot lots on a portion of the residential property.
After completing improvement plans and making the project “shovel ready” for a buyer. Mission Pacific sold the 270-lot map to a public homebuilder in 2020. Mission Pacific currently is processing entitlement and engineering for the balance of the property.