An investment firm and a developer have joined in a venture to build a 26-home community on seven acres in Oceanside.
IHP Capital Partners and California West Communities, a San Diego-based residential developer and homebuilder, this week announced the partnership to create 26 Tides, consisting of two-and three-story single-family detached homes.
26 Tides is fully entitled with grading and other site work already underway on the infill site. Construction is anticipated to begin in early 2023, with home sales anticipated to open in the second quarter.
Prices will be released at a later date, the partners said.
Jeff Enes, a senior vice president at IHP Capital Partners, called 26 Tides “a unique hillside neighborhood with a private feel, built around a cul-de-sac within the established Fire Mountain neighborhood” that will add “contemporary single-family homes in a desirable submarket that has limited new home supply.”
Designed to appeal to first- and second-time homebuyers, the community will include a mix of five floor plans ranging from 1,675 to 2,290 square feet. They will have three to four bedrooms, two and a half to three bathrooms, attached two-car garages, and either a side or rear yard.
In addition, 11 of the homes will have a third story, generally designed as a “pop-up” bonus area to maximize views for north-facing lots. One of them will feature an accessory dwelling unit above the garage.
The community also will provide two affordable units to be rented to those with low incomes.
Oceanside’s Fire Mountain neighborhood, northeast of Interstate 5 and state Route 78, is made up of single-family homes on large lots. 26 Tides, off Grandview Street, is surrounded by those homes, open space and a commercial office center to the north.
Grandview is south of Crouch Street, which has a transit station and links to Oceanside Boulevard and the multiple shopping and dining options there.
Matt Thorne, a partner at California West, called the development “well-positioned with great access to local amenities and regional transportation.”
“As Southern Californians continue to face limited home supply, California West is excited to work with IHP in delivering 26 beautiful, new single-family homes – some with peek-a-boo ocean views – to this desirable part of San Diego County,” he added.
26 Tides is IHP and California West’s fourteenth residential project together. One, Eclipse, a three-story townhome community of 113 residences in Escondido, is under construction and open for sale. The homes start in the mid-$600,000 range.