Menifee, CA – Yesterday, Tricon Residential Inc., Foremost Pacific Group, and Woodbridge Pacific Group companies (together, the “Developers”) celebrated the groundbreaking of Adler Ranch, a 303-unit community of modern contemporary single-family homes in Menifee, CA.
Adler Ranch is the second of Tricon’s two new, purpose-built, single-family rental home communities in the Inland Empire. In addition to representatives from the developer and project contractor, several Menifee city officials were in attendance, including Mayor Bill Zimmerman. It was an honor for Mayor Zimmerman to welcome the Developers and perform the ceremonial groundbreaking to symbolize the beginning of a new stage of development for the city.
“Affordable housing is one of our top priorities in Menifee and this is a key project that begins to meet our housing needs,” says Mayor Bill Zimmerman, City of Menifee. “These gorgeous homes will form a new, family-friendly community located in Menifee, California conveniently situated near parks, shops and schools.”
“We are excited to commemorate this project milestone on Adler Ranch with our partner Foremost Pacific Group and Woodbridge Pacific Group,” said Josh Welty, Vice President of Development for Tricon Residential. “Today’s groundbreaking launches new single-family rental homes and creates additional housing in California through a highly desired product in purpose-built rental communities. Adler Ranch is designed for individuals and families who desire the benefits of living in a single-family home and prefer the convenience and flexibility of a rental lifestyle. By providing residents an exceptional maintenance-free experience, they will have more time to spend on what is most important to them.”
Located at the corner of Antelope Road and Craig Avenue, Adler Ranch will feature 303 modern contemporary single-family homes with three- and four-bedroom options, state-of-the-art technology, and outdoor amenities, including gated community, junior Olympic lap pool, picnic pavilion with BBQs, event room with prep kitchen, covered cabanas, and dog park. In addition, Adler Ranch homes will include energy-efficient, stainless-steel appliances, attached two-car garages, keyless front door entry, solar panels, and fenced backyard. Development of the community is expected to progress through 2022, with a Grand Opening planned for early 2023. The community is conveniently situated near parks, shops, schools, Mt. San Jacinto College and the I-215 Freeway that easily connects to Temecula.
“We are thrilled to partner with Tricon Residential on our second build-to-rent community,” said Steve Cameron, Principal of Foremost Pacific Group. “This project will provide new options for Riverside County families.”
Adler Ranch is part of Tricon’s previously announced build-to-rent pipeline of 3,000 new build-to-rent homes across 23 communities. Tricon Residential will operate Adler Ranch upon completion of construction. The project developer is Foremost Pacific Group and general contractor is Woodbridge Pacific Group.
About Tricon Residential Inc.
Tricon Residential is an owner and operator of a growing portfolio of approximately 35,000 single-family rental homes and multi-family rental apartments in the United States and Canada with a primary focus on the U.S. Sun Belt. Our commitment to enriching the lives of our residents and local communities underpins Tricon’s culture and business philosophy. We strive to continuously improve the resident experience through our technology-enabled operating platform and innovative approach to rental housing. At Tricon Residential, we imagine a world where housing unlocks life’s potential.
About Foremost Pacific Group
Foremost Pacific Group (FPG) is a business affiliate of Woodbridge Pacific Group (WPG). Sharing their headquarters office in Orange County, California, both enterprises are fully dedicated to the residential real estate development industry. FPG focuses exclusively on the acquisition, design, and development of new rental housing projects. FPG and WPG team together in the execution of FPG projects. FPG leads all business strategy, market assessment, site selection, land acquisition, and community marketing elements for its project portfolio. FPG and WPG work together on the design and construction aspects of FPG projects. Known for architectural creativity and exceptional livability, WPG’s new home communities have won many regional and national awards for “outstanding design” over the firm’s history. As a General Contracting firm specializing in housing design and development, WPG brings great expertise to the architectural design, value engineering, construction management, cost efficiency, and project execution aspects of FPG’s rental home communities. Together, FPG and WPG implement a seamless acquire, design, build, and market process for FPG projects.
About Woodbridge Pacific Group Companies
Woodbridge Pacific Group Companies (WPG Companies) is a Southern California-based enterprise which develops, constructs, and invests in various sectors of the residential real estate industry. The Woodbridge Pacific Group (WPG) business unit plans, constructs, and sells new for-sale home projects in the US West. Foremost Pacific Group (FPG) focuses on the rental housing sector and leads the development and management of the firm’s for-rent communities. The mission of the WPG Companies is to optimize the design and development of housing projects in order to maximize the value of residential land, new homes, and newly renovated residences for the benefit of landowners, investors, and residents.
