Frequently Asked Questions
- What is the plan for Euclid + Heil?
Shopoff Realty Investments and Lennar Homes are planning a residential development for the property featuring a variety of home types for Fountain Valley. - Who is developing this site?
Shopoff Realty Investments in partnership with Lennar Homes, one of the nation’s largest homebuilders, is entitling and developing the Euclid + Heil project.
Shopoff Realty Investments is a local real estate investment firm headquartered in Irvine, California with more than 32 years of experience transforming underutilized real estate into more attractive spaces. The firm pursues the highest and best use for all of our properties, focusing on enhancing communities and fostering long-term partnerships. As a result, Shopoff has established a reputation based on integrity, determination and vision.
- What is the timeline and planning process?
Shopoff submitted its application to the City of Fountain Valley in January 2024. The firm will work on processing the entitlements for the project through the City of Fountain Valley Planning Department and associated departments and agencies, with an anticipated approval date in Q3 2024. During this time, we look forward to working with the local community and neighbors to answer any questions about the project. - Why this Project?
Currently the State of California has an estimated housing supply shortfall of approximately 2.5 million homes. As a result, the State of California has passed a series of progressive housing bills in recent years to stimulate housing development. In addition, as part of California State Housing Law each jurisdiction must update their Housing Element every 5-8 years identifying a required allocation of housing units and suitable underutilized sites to accommodate projected population growth and housing needs in order to receive state funding and not incur punitive fines. The Housing Element is facilitated by the California Department of Housing and Community Development (“HCD”) as part of the Regional Housing Needs Assessment (“RHNA”) and the City of Fountain Valley
adopted their 6th cycle Housing Element in October 2022 identifying 4,839 housing units for the 2021-2029 planning period (see link below). HCD also reviewed the City’s Housing Element on October 13, 2022, and subsequently certified the City’s Housing Element and deemed it to be in compliance. The Housing Element identified the subject site and 10 other prospective sites in Fountain Valley to accommodate the unit count and affordability metrics required by RHNA. In November 2023, the City of Fountain Valley approved their
General Plan Update, which rezoned the subject site from R-1 Single Family Residential (5 units per acre) to R-4 High Density Residential (30 units per acre), which will allow for a diverse mix of for-sale, for-rent, and affordable
product types to accommodate the future housing needs of Fountain Valley residents.
LINK to Fountain Valley General Plan Update: https://www.fountainvalley.gov/DocumentCenter/View/19654/Fountain_Valley_2045_General_Plan
Will this development cause additional traffic?
- Based on traffic studies and queuing analysis for turn lanes procured by the traffic engineer, in addition to proposed off-site roadway and median improvements to Euclid Street & Heil Avenue, the project is not expected to cause any significant traffic impacts. However, as part of the entitlement and approval process, Shopoff will work with the City of Fountain Valley to further analyze traffic impacts.
- Will enough resident and guest parking be provided? Sufficient parking will be provided for residents and guests throughout the project to avoid overflow parking in the surrounding neighborhoods.
- What will the residential offerings be? Euclid + Heil will create approximately 407 apartment units consisting of for-rent junior one-bedroom, one-bedroom and two-bedroom units, 36 two-story for-sale triplexes, and 183 three-story for-sale townhomes.
- What will the monthly apartment rents be and what will the townhomes sales prices be? The rates have not been determined, and will depend on market conditions at the time these units are completed.
- Will there be affordable housing? This project will include affordable units.
- What will the amenities be? The apartment project provides four open courtyards. The concepts for the courtyards along Euclid Street focus on creating entertainment, game, and pool areas. The entertainment courtyard may include a movie lawn, summer kitchen, beer garden-style seating, and outdoor grills. The game courtyard would allow for recreational activities such as billiards, ping pong, and a game lawn. The pool oasis includes a pool, spa, cabanas, grills, shade trellis, and seating areas. In addition, the interior courtyard may be programed as a zen garden with a yoga lawn, water feature, fire pits, and covered seating.
The townhome residents will have access to two common open space areas within the development. A 15,500 square foot recreational area within the center of the community including a pool house, pool, spa, shade structures, barbeque grills, and seating areas. In addition, a community playground is located at the west end of the site and lushly landscaped paseos connect the community to create a welcoming cohesive feel.
- How can the public stay informed about the project?
Sign up for news and announcements by completing the field at the bottom of this page.
- How can buyers interested in purchasing a future for-sale residence get more information?
Email lennariteam@lennar.com to get added to our interest list.
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