The Fountain Valley Planning Commission unanimously recommended plans for a proposed 18-acre housing development near Mile Square Park.
Euclid + Heil, proposed Irvine-based Shopoff Realty Investments, would bring 304 market-rate apartments, 83 senior affordable units, 36 two-level for-sale triplexes and 183 three-level for-sale townhomes to 16300 Euclid St. in Fountain Valley.
Shopoff Realty would partner with Lennar and National CORE to bring the housing project, which would also include pools, parks and game areas, online.
Shopoff Realty bought the property near Fountain Valley’s Mile Square Park in 2021 and submitted its plans to the city in January 2024. Grading for the development is slated to begin later this year, with the apartments and affordable housing units to be completed by 2028. The first phase of townhomes and triplexes would open in 2028. Sales would continue through spring 2029.
“As California continues to tackle its housing shortage, we believe the addition of this project and its diverse product mix may benefit the greater community for generations to come, offering both for-rent and for-sale product in a supply-constrained market,” Shopoff President and CEO William A. Shopoff said in a statement.