“Site A” of the Canyon Springs Master Plan is a 10-acre site entitled for up to 234 market rate units restricted to age 55+. Ideally located just one block north of the planned healthcare campus, the site benefits from its close proximity to a full range of services including retail, assisted living, and healthcare services. This new community will appeal to a wide range of seniors, from those who currently reside nearby to those looking for a higher quality of life at an attractive price point.
The senior population in the Canyon Springs market area is expected to grow to over 600,000 by 2030 – with an 85% increase in the cohort 75 and older, and a 49% increase for those aged 65-75. Experts are projecting a long-term supply shortage as increasing numbers of retiring baby boomers seek to move into senior housing communities.
Riverside has been mandated by the State of California to provide an additional ±18,000 residential units through the statewide Regional Housing Needs Allocation (RHNA). The city will be keenly focused on getting additional multifamily units built in order to comply with State law, making this a favorable time for residential development. As increasing numbers of elderly residents and young families relocate to the Inland Empire, the need for additional housing will continue to grow.