Hanover Development Logo
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Rendering showing lot separations and view potential

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Site plan shows lot configuration and riding ring (at mid-upper left)

39 1-Acre Mininimum Equestrian Lots

This is a high-end equestrian community.  There are 39 lots on 51 acres.  The property connects to the local equestrian trail system.  The community "amenity"  is a riding ring.

Many of the homes will have views.

The entitlements require the minimum home size will be 5,000 square feet


The link above shows a proforma we have developed that reflects some key assumptions.

Business Plan

The business plan is to develop the lots and build  production homes and to sell the balance of the lots as custom lots to individuals. The actual number of homes to be built can vary depending on the demand we get for the custom lots. In an attempt to limit the term of the investment we assumed we would need to deliver 32 homes and that 7 custom lots can be sold quickly. We have seen expressed interest in this number of lots and are quite confident in the estimate. It is possible demand for lots will be higher. If that is the case we will sell as many possible to improve the financial returns on the investment.

Litigation Status

The litigation centers around a land use question. More detail is available. Bottom line the ownership won several challenges to the approvals that were issued by the city. The appeal process took this case all the way to the California Supreme Court. After more than 2 years waiting for the case the be heard, oral arguments we heard recently. A decision will be issued by the end of 2016 and become final 30 days later.