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2/02/21
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Intracorp Homes acquired a five-acre land parcel in Claremont for development of a 96-home community that will include a mix of single family detached homes, duplexes, and townhomes. The project marks the end of the multi-phase development of the Old School House (OSH) Specific Plan, which has been underway for more than a decade.
“There is tremendous demand for new, upscale living communities in this area, and this idealistic location is at the center of a vibrant mixed-use neighborhood,” says Brad Perozzi, president of Intracorp Southern California. “The development of these new homes will not only provide residents with new housing options but will present a unique opportunity to purchase a new residence in one of the most desirable communities in Southern California.”
The “Specific Plan for OSH/Claremont Inn Revitalization” was first proposed to city officials in 2006 with intent to convert a vacant hotel building into residential condominiums and build a 240-space, three-level parking structure north of the building. However, after several delays that resulted from the 2008 financial crisis, as well as major design revisions, adjustments to the current site, and numerous underground infrastructure improvements, the plan continuously evolved until the final proposal was approved in January 2020.
Located at the northwest corner of Indian Hill and Foothill Boulevards, the OSH development now encompasses a Doubletree Hotel, Trader Joe’s, and mixed-use retail and office space. These additions were completed in earlier phases of the project by the property’s original owner who bought the OSH and Griswold’s complex in 2005.
The site of the new 96-home community is located along Colby Circle. It will offer a variety of home designs ranging in size from 1.4k sf to 2.2k sf. Onsite amenities will include a bar-b-que area, interior paseos and landscaped courtyards with ample outdoor seating and private outdoor spaces. The community is near several parks, fitness amenities, and top-rated schools based on a variety of measures, including academic performance and equity. It is within walking distance to Claremont’s vibrant shops, restaurants, and entertainment.
Intracorp purchased the new community site through a joint venture (JV) partnership with Newport Beach-based IHP Capital Partners. Construction is planned to commence in Q1 2021 with initial sales anticipated in Q4 2021. As the final phase of the OSH Specific Plan, the new community completes the original vision of Claremont’s Old School House site revitalization.
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