Avenue 70 - North Shore High Value Land Sale

UPDATE: Seller will approve a Seller's Note to facilitate the sale of the property. This is not your typical land sale. This approximately 38.16 acres parcel is in an area that is going to be completely transformed within the next year. So the days of vast acreage of agricultural land permeating this area are coming to an end, and it is all due to a purchase made in 2007 by the local school district. The subject property is adjacent to an under construction elementary school that will feature an elementary school for 500 students including classrooms, and athletic fields. The elementary school is scheduled to open by January 2025 and it construction is underway. Per the County of Riverside Planning Department, the school district will be bringing in robust access to utilities which will serve the schools and surrounding area. This parcel will be a direct beneficiary of this significant improvement due to its location. (Exception is sewer. New development will require septic systems.) Presently, the parcel is surrounded by a former fish farm, and a ColGreen Solar Farm that lease many parcels in the area. The parcel is also close to the Salton Sea which has secured funding in the amount of $250M from the federal government, and $583M from the State of California to deliver projects that protect the surrounding communities and the environment. The Salton Sea also has three companies that are developing chemical processes to extract lithium in a much cleaner way, taking advantage of the Salton Sea’s rich geothermal resources. Near the lake, there are already 11 operating geothermal power plants, 10 of which are owned by Berkshire Hathaway’s renewable energy division, BHE Renewables. So the parcel is near future demand that may require housing, and related commercial services. The W-2 zoning definition is attached to the listing and can be downloaded. Although single-family homes are the most appealing use with this zoning in the short-term, the long-term potential of the property could also be commercial services: retail, restaurants, and general office services which would require a zoning change for part or all of the parcel. Again, this would be a long-term view of the property in delivering its maximum potential in light of the Coachella Valley Unified School District campus and the large investment in the Salton Sea. Drone videos show the surrounding area to the parcel including the grading of the future school and its close proximity to the Salton Sea. The second drone video shows the entirety of the parcel.