Project Portfolio | Sycamore Creek

Sycamore Creek - Temescal Valley, Riverside County, CA

Project Description
Sycamore Creek is a 717-acre partially developed masterplanned community in the Temescal Valley area south of the City of Corona approved for more than 1,700 homes. The community features miles of recreational trails linking amenities including a new elementary school, a swim complex with two pools and a splash park, a clubhouse, an eight-acre sports park, a 25-acre regional park and a new neighborhood shopping center. Forestar Management is the development manager of the community.

Background
Starfield Sycamore Investors purchased Sycamore Creek in 2002 and since then more than 1,120 homes have been sold within the community. Because of Forestar’s knowledge of the community and experience with the nuances of development in Riverside County, when the market turned Starfield engaged Forestar to take over the development management of the community. Two actively selling neighborhoods with nearly 75 lots are currently open and Forestar is getting the remaining 542 lots ready to sell.

Value Added
Forestar has been working closely with Riverside County to position Sycamore Creek to be ready to deliver lots to homebuilders as the market returns. Forestar is processing a Specific Plan Amendment to transfer density between several planning areas. Additionally, Forestar is negotiating financing agreements with the County of Riverside to fund future traffic improvements. Forestar is also processing CFD reimbursements and fee credit agreements. Forestar is active in the control and administration of the Sycamore Creek HOA. Finally, Forestar is working with the county and neighboring property owners to finalize conservation easements and other off-site conditions.

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