Apartment Complex Nears Completion
Over the last few years, Continental East Development, Inc. (CED) worked tirelessly to bring a three-phase project to Moreno Valley under the name Continental Villages. The first phase includes 125 market-rate apartments with a recreational clubhouse, swimming pool, and on-site amenities. This part of the project will reach completion in early July.
COVID-19 impacted Southern California businesses and their ability to complete construction. CED worked hard to mitigate these challenges. In addition, Lydia Percia, CED Vice President, negotiated with buyers to sell the apartment complex. The site is scheduled to close escrow within the next 30 days, and the property will undergo a rebrand as Arrive at Rancho Belago.
The final inspection from the city’s Planning Department brought an exciting accomplishment for the end of the project. The inspector who came out to review the project cited zero deficiencies. This is
uncommon and speak volumes of the project’s quality and positive contribution to Moreno Valley.
As Phase I reaches its end, CED moves toward breaking ground later this year for Phase II of the project. This 112-unit complex is comprised of apartments and duplexes. Phase III will bring a commercial retail center to the area. CED received its entitlements for both phases and is working toward completing architectural and civil drawings.
To learn more about the three phase project, visit Continental East – Fund III, LLC.