The New Model Colony, a 47,000 home development on 8,200 acres, is starting up again after being stalled since 2007 with the opening of a 1,200 home section of project.
Park Place, adjacent to the city of Eastvale, is planned in three phases. The first neighborhood, which opens Saturday, will have 432 homes ranging from 1,600 square feet to 4,000 square feet. Developers expect the single-family houses to fetch from the low $400,000s to the mid $600,000s. A community center has already been built, complete with a gym, tennis court, pool and theater.
Eventually, Park Place will have 24 acres of parks.
It’s now surprise development in the Inland Empire is picking since the region enjoyed the second fastest rate of home appreciation in the country and the fastest job growth in Southern California.
The project, the largest residential development in Southern California history, will dramatically change the traditional diary community, nearly doubling its population.
Ontario city planners envision 47,000 homes, a 355-acre park and 30 million square feet of industrial and commercial space. More than 160,000 residents are expected to call the community home when it’s finished in coming decades.
The development is expected to take 25-30 years to complete. The reemergence of such a large master planned community will provide a test of the theory of many experts who say the future belongs to dense, urban developments favored by millenials and not the large master planned development many of these millenials grew up in.
When it’s time for the millenials to raise their own families, time will tell what sort of housing they will choose.