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Murrieta
Unparalleled Location- Perched atop the crest of a gentle hill with views of the surrounding mountains and long vistas of the valleys below, this site is unparalleled in the market. Only two minutes from the 15 and 215 Interstates which connect the property to several centers of economic and recreational activity, residents of Parkside on Hancock are walking distance to two major medical centers and myriad clinics, labs, life science start-ups, and medical offices in the area. Surrounded by retail, entertainment, fitness, and grocery stores, the property is truly convenient to everything!
Job Growth in High-Paying Sectors- Two major hospital expansions are expected to bring new construction and permanent medical jobs and services to the area. Across from the project, the Rancho Springs Medical Center has recently broken ground on a big expansion, and the facility's name has been changed to Rancho Springs Hospital. Moreover, the Inland Valley Medical Center was given approval in2022 to move forward on a 290,000 square foot 7-story hospital tower just four miles to the north. These expansions and renovations are expected to cost nearly $450 million and create over 1,000 design and construction jobs, as well as hundreds of new hospital jobs, including nurses, therapists, and technicians, once all new care units are open. They will be completed in phases over the next two to five years.
Good Schools- Murrieta Valley Unified School District (MVUSD) is consistently one of the highest performing districts in Riverside County. High test scores, highly qualified teachers, staff dedicated to serving students, and active parent and community involvement place Murrieta in the upper echelon of school districts. MVUSD is one of only 22 exemplary rated districts in the state of California. The property’s designated high school and middle school are rated in the 80th and 72nd percentile among all California Schools, respectively, and the elementary ranks above average.
A Great Community for Families- Murrieta has been ranked the "#1 City to live in Southwest Riverside County" by The Press-Enterprise. And a 2022 report by Safe Wise ranks Murrieta in the "Top 20 Safest Cities to Raise a Family" nationwide (ranking 6th in California).
By-right Zoning- Located in Murrieta’s Transit Oriented District (TOD), the city provides a defined pathway to development of high-density multifamily by way of a Development Permit Application.
Murrieta
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To learn more about the project, reach out to the project broker(s).
Justin specializes in multifamily investment and development brokerage and advisory services. He leverages his many years’ experience on the principal side of real estate investment and development with some of Southern California’s most prolific multifamily investors and developers. Justin has touched all aspects of multifamily investment and development prior to joining The Hoffman Company. Therefore, he is uniquely well-suited to provide to clients a perspective uncommon in the brokerage industry as to how to optimize the value of their property in the marketplace.
During his career, Justin has supported acquisition and directed development of over 2,000 units while Development Director and was the central figure in the underwriting and acquisition of thousands of multifamily and single-family units while Senior Analyst and the underwriter for major investment management firms and their institutional partners such as Blackstone, LACERA, LACERS, and PGIM. In 2020, one of Justin’s projects (Broadstone Arden) was honored with the Pillars of the Industry award for “Best Apartment Community (Under 5 stories)” by the National Association of Home Builders.
