The New Home Company, a real estate developer from Aliso Viejo, is moving forward on the Bedford community that will bring 1,620 homes to South Corona.
New Home Co. recently announced it will be building homes with TRI Pointe Homes and Woodside Homes at Bedford, the largest residential project in the area in at least 15 years. Sales at Bedford, located near the Cajalco Road and I-15 interchange, are expected to begin later this year.
Bedford is another example of the Inland Empire slowing regaining its homebuilding pace. Last year was the busiest year for developers since 2007. In the 12 months ended in May, builders filed permits to construct 13,515 residential units in Riverside and San Bernardino counties. That’s up 15 percent from the previous 12 months but roughly half of the construction pace from 1988 through 2006.
In the first phase of construction at Bedford, on 275 acres that once housed a lemon grove, New Home will build 41 single-family homes. The Whitney neighborhood homes will be from 2,771 to 3,327 square feet with up to five bedrooms and up to five baths. Prices are expected to begin in the mid-$600,000s.
TRI Pointe will build Citron, 101 townhomes designed by Woodley Architectural Group — two-story, row-style residences from 1,231 to 1,514 square feet with three bedrooms and three baths. Prices are expected to begin in the low-$400,000s.
Woodside Homes is building Nova, 96 two-story, single-family homes ranging from 1,754 to 2,296 square feet with up to five bedrooms and up to four bathrooms. Prices are expected to begin in the low-$500,000s.
Bedford will also include a community center and 10 acres of retail, office, entertainment and lodging. A freeway interchange will also be built to access the new development.