In October 2022, CalTier Fund 1 acquired 1.2 acres of lakefront property for a 36-unit multi-family and mixed-use development in Lake Elsinore, California.
The property will boast of unobstructed views of the lake and mountains and will consist of 36 multi-family units, pool, clubhouse, workspace, and retail units. Twenty-four of the thirty-six residential units will consist of 2 bedroom, 2.5 bathroom townhome-style units and the remaining twelve units will consist of 1 bedroom, 1 bathroom apartments.
Reflections at Lakeshore is conveniently located on Lakeshore Drive, the main artery around the lake, with direct access to key roads for commuting. The city of Lake Elsinore has the fastest growing population over the past decade of any California City and the 4th fastest in the nation. It has slowly transformed into the action sports capital of the West and business segments have experienced higher growth levels than the state of California between 2014-2021. New competition venues, tournaments, and attractions are expected to help Lake Elsinore double tourism to more than 2 million visitors annually. All of these economic drivers and the demand for available housing have helped the median home values increase by 30% over the prior year. Reflections at Lakeshore will have a condominium map which will provide the option of selling each residential unit off individually to potentially take advantage of the for-sale value upon exit.