Shopoff Realty Investments announced that the company has successfully sold its 141-unit Moss Street Townhome project to Shea Homes.
The 6.94-acre property is located in Chula Vista, California at the intersection of Moss Street and Industrial Blvd. Formerly approved for light industrial uses, Shopoff worked diligently with the City of Chula Vista to secure project entitlements. The entitlements allow the property to be developed into a gated housing community featuring 141 three-story attached townhomes.
“This townhome development will be a wonderful addition to this evolving neighborhood of Chula Vista that will also soon be home to the $1 billion Chula Vista Bayfront Redevelopment Project, located less than one mile away,” explained Shopoff Realty Investments President and CEO William Shopoff.
“Future residents will be able to enjoy the area’s robust amenities for years to come. We are proud to see this property move forward towards development, bringing some much-needed housing to the area,” Shopoff added.
Shopoff Realty Investments is a national manager of opportunistic and value-add real estate investments based in Irvine, California.
