He told GrowthSpotter he is seeking entitlements to develop a market-rate senior housing complex with a mix of one- and two-bedroom units. A preliminary meeting with Orange County planning officials discussing the rezoning of the property took place last week.
Submitted plans show the developer would need to amend the Future Land Use designation to allow for a more dense residential project. If approved, the rezoning and land use change would clear the way for Rivero to build up to 63 units across one or more five-story buildings.
He said it would be the company’s first senior housing development. The firm typically specializes in retail and industrial developments and also provides construction services.
“The need we’re seeing for senior housing, it’s only going to keep increasing,” Rivero said. "Some conceptual renderings are being worked out right now with the architecture firm we contracted, but we really won’t know [exact details] until probably later this summer.”
The developer hired Scott+Cormia to begin designing the schematic work.
Stankay Engineering Group is the civil engineer. Locklin & Associates Inc. is the surveyor and Mike Tannous Engineering is the geotechnical engineer.
The deal for the transaction is expected to close this week. The seller is an affiliate of MPI Group, which is an investment and development firm based out of Toronto Canada. Records show the firm has owned the land for almost 30 years.