Ascent At Riverside

±4.29 AC RESIDENTIAL DEVELOPMENT OPPORTUNITY – ±4.29-acre residential development opportunity located within an Opportunity Zone and just down the street from the University of California, Riverside. Opportunity for a buyer to pursue a reduced density execution and ownership is prepared to allow additional time for this process.
STREAMLINED DEVELOPMENT – Fully entitled for 258 market-rate multifamily units with no affordable housing requirements, enabling a streamlined path to development.
LOCATED IN THE INLAND EMPIRE, SOUTHERN CALIFORNIA’S FASTEST GROWING REGION – The population in the Inland Empire grew by nearly 10% over the last 10 years to over 4.8 million and will grow an additional 20% (nearly 1 million more residents) by 2050. The economy is one of the largest and fastest-growing in the nation and ranks 30th for employment growth, performing better than Los Angeles, San Diego, and Orange County. Rental market performance has also outperformed each of the neighboring counties.
LOCATED IN THE INLAND EMPIRE, SOUTHERN CALIFORNIA’S FASTEST GROWING REGION – E-commerce continues to be a strong driving force for the Inland Empire’s industrial market, creating strong demand for large, modern warehouses. Currently, there is over 26.7 million SF of industrial space built in 2025 under construction which will bring an estimated 34,000 additional jobs to the region. Developers are still confident in anticipated demand despite rising construction costs and land values over the last few years. Notably, E-commerce giant Amazon has increased their presence in the Inland Empire substantially over the last 10 years and currently occupies over 30 million square feet of space in the Inland Empire with 50 industrial buildings.
LOCATED IN THE UNIVERSITY NEIGHBORHOOD – The University neighborhood in Riverside, California, surrounds the University of California, Riverside (UCR) and has a lively college-town atmosphere. The area is home to a diverse mix of students, faculty, and local residents, with a variety of apartments, single-family homes, restaurants, and shops nearby. Popular spots like University Village provide dining and entertainment, while nearby parks and the UCR Botanic Gardens offer outdoor spaces. Its convenient location near major roads and the campus makes it a dynamic and accessible place to live.
NEARLY 1 MILLION SF OF RETAIL WITHIN AN 8-MINUTE WALK – Nearly 1 million SF of retail within an 8-minute walk, including University Village Shopping Center, University & Chicago Center, Chicago Plaza, and Farm House Collective which is located right next door to the site.
RESIDENTIAL DEMAND IS OUTPACING SUPPLY – According to RHNA 2021–2029 Housing Element Cycle, the City of Riverside needs to identify space for approximately 24,000 new residential units for the 2021–2029 Cycle due to the State’s current housing crisis. Since 2021, approximately only 1,000 units have been delivered. Currently, there is only 401 multifamily units under construction in the City of Riverside and no for-sale product currently under construction.

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David Harrington