New construction in El Segundo is rare – multiple new townhomes and multiple new single-family homes at the same time – that’s even rarer!
The much-anticipated townhomes and single-family homes by D.R. Horton are now selling in El Segundo. Both developments, built on the old Imperial Street School property, are called Waypoint El Segundo (34 townhomes) and Pacific Landing (24 luxury homes) by Emerald Homes.
D.R. Horton successfully closed escrow on the Imperial Street School property in 2016 – according to reports from the El Segundo Herald, the Imperial Street School has been a surplus property for decades with no school operations there since the 70’s.
Funds from the sale of the property ($22,000,000) went directly to the ESUSD to help with much-needed repairs ($6M went to repairs and maintenance at Center Street School and $16M is being invested to populate a revenue stream each year of $500k to help defray costs. The $500k was a replacement of the $500k the ESUSD was earning from the rental of that property before the purchase). (Learn more about how the sale impacted ESUSD)