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With a number of projects in the works in Bishop Ranch and other neighborhoods within the city of San Ramon, yet another planned housing development was announced this week.
Newport Beach-based real estate investment firm, IHP Capital Partners, and its joint venture partner, The Grupe Company — a vertically integrated real estate development firm — have acquired a 2.5-acre infill parcel in San Ramon for the development of Aria, which seeks to become a vibrant new neighborhood of 57 for-sale townhomes designed for modern living, according to a statement from the developers Thursday.
“San Ramon is a highly desirable East Bay city recognized for its excellent schools, safe neighborhoods, and abundant outdoor recreation,” said Reneé McDonnell, partner at IHP Capital Partners. “IHP is thrilled to re-connect with our long-time partner, The Grupe Company and collaborate with Homes Built for America to transform an underutilized site into an exciting new neighborhood of premium homes,” McDonnell added.
Aria marks IHP’s first new partnership with The Grupe Company in several years, building on a relationship that spans more than three decades and includes the entitlement and development of over 5,700 lots and 1,100 homes, according to IHP’s statement. This project also represents IHP’s first collaboration with builder Homes Built for America.
Located on Deerwood Road, Aria will offer three- and four-story townhomes ranging from approximately 1,500 to 2,000 square feet. The plans include 48 market-rate units and nine affordable residences.
The project’s site plan and design are led by R3 Studios, which is based in Oakland. However, their work is familiar to the Tri-Valley as their portfolio includes the Sorrento at Dublin Ranch residential community and the Fallon Gateway shopping center also in Dublin, according to the company’s website.
The Aria site in San Ramon was purchased from The True Life Companies. With entitlements secured, IHP said in its statement that land development is underway with construction scheduled to begin by the end of this year. Home sales are expected to launch in early 2026 and community completion is anticipated by 2027. Pricing is to be announced at a later date.
“Aria will bring much-needed quality housing to the East Bay,” said Chris Bley, co-president of IHP.
Bley continued, “The Grupe Company has been a trusted partner of IHP for decades, and together we are committed to creating in-demand communities that home shoppers prefer while addressing California’s housing shortage. By working closely with the seller to secure entitlements before closing, we ensured Aria was shovel-ready and we could get started quickly in delivering a vibrant new neighborhood for San Ramon.”
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