An opportunity to acquire Multi- Family land with 1600 sft of Freeway frontage for a medium density apartment project up to 468 units. Several key economic factors make this a strategic asset that will appreciate well into the future.
Caltrans begins construction on Freeway Off Ramps Short Term Added Value (1-5 Years) In March 2016, Caltrans started work on the reconstruction and wideing of Stoddard Wells Rd, D Street and E Street interchanges.this $71 Million dollar project will signifigantly increase the traffic flow in anticipation of the future growth of the surrounding area.
Milestone Reached for E-220 Freeway Coridoor Mid Term Added Value (5-10 Years) The E-220 coridoor is a vital east / west trucking and logistics freeway linking the greater Los Angeles basin with the High Desert. June 2016, the Final EIS / EIR has been approved. The 63-mile multi-modal link between the Victor and Antelope valleys will address current and future regional growth, bolster east-west mobility and improve connections between regional airports and increase efficiency in the movement of goods. The corridor includes several transit components in addition to high-speed rail, including a highway with toll lanes, a bikeway and a solar-generating option.
Future High Speed Train Station Planned Linking Las Vegas and Los Angeles Mid Term Added Value (10-15 Years) XpressWest strategically selected Victorville as the optimal location for their Southern California Station. Its is located within a 30 to 45 min dive of 4-5 million people who live in the Inland Empire, and eastern Los Angeles County. All East / West freeways serving Southern California basin merge with the I-15 south of Victorville, requiring all drivers to pass through Victorville en-route to Las Vegas.
Victorville s Master Plan Long Term Added Value (15-20 Years) Desert Gateway a 10,000 acre master plan for Victorville situated on the I-15 Fwy just north of the towns center and part of the subject site, represents a vision for a new community in the High Desert A city with much potential, Victorville has implemented this plan to foster development and tourism. More mixed use, higher density residential projects are essential to attracting the work force that will lead to diversified economic development. The economies of Southern California and Las Vegas are becoming closely linked. Located between these two metropolitan areas, Victorville is positioned to capitalize. The master plan is intended to guide future opportunities to the benefit of Victorville and its citizens.
Victorville Demographics
The High Desert is gaining distinction with a brand new 1.3 million sft distribution center just approved for development in Apple Valley, near an existing 1 million sft Walmart distribution center less than 5 miles from the subject property. Nearby projects include the E-220 High Desert Corridor linking Palmdale to Victorville. The new freeway will provide east/west link to the Los Angeles region, with empathise on goods movement and access to the Southern California Logistics airport 5 miles to the west. The proposed Xpresswest Bullet Train Station located to the north of the subject property to have a route between the Victor Valley and Las Vegas. Currently under construction to the south of the subject property is the widening and improvement of the Stoddard Wells Rd Off-ramp. APN SIZE ZONING TOPOGRAPHY VISABILTY FEATURES PRICE 0472-061-25 39.57 Acres Medium Density Residential (12 units/acre) 468 potential apartment units Gentle Slope 1600 ft Freeway Frontage New I-15 Fwy Offramp (Stoddard Wells) to be complete 2018 directly south. E-220 Freeway Project (Major East West Corridoor) off ramp located to the north. XpressWest (Los Angeles to Vegas High Speed Train) Station Planned to the north. $1.14 /psft $1,950,000.00