Aurora Village

Description:

The property is located on 12th St West & Avenue J-9 in Lancaster, CA

Development Opportunity!

This fully improved development site can save a developer precious time and money and is located within an “Opportunity Zone”, where potential Federal Tax deferral and/or elimination is available! https://www.irs.gov/newsroom/opportunity-zones . The subject property is fully improved and ready for grading as entitled under CUP 06-07 along with a confirmation letter of same from the City of Lancaster. The site offers a great in-fill location, centrally located, close to major retail shopping that includes the new Sprouts Farmer’s Market store, along with financial institutions and a number of restaurants. A recent letter from the city of Lancaster confirmed that the subject property remains entitled, with no additional Planning Department approvals needed, for 3 separate development scenarios: (1) The development of a 24-unit senior apartment project on the site. This scenario is strongly supported by the city of Lancaster who indicated they would waive all impact fees for 100% Senior development. (2) In 2009, a modified site plan for Aurora III was approved for 24 memory care units, 40 assisted living units and 2 staff housing units (total of 66 residential units) in two buildings. (3) In 2019, a minor modification to the Aurora III site plan that allowed a total of 65 residential units in one building with a central courtyard, was found to be in “substantial conformance” with the previous approvals and could proceed without any “additional planning approvals”.

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Listing ID: a0c66970-ec45-4240-852a-cdab966f8c12