Hearthstone has purchased the 271-acre Hitch Ranch in Moorpark for $59.4 million. This nine-parcel deal includes plans for constructing 755 homes, a 6-acre public park, and necessary infrastructure. The development has been delayed for over 30 years and represents a significant project for the region. Hearthstone will develop the land and sell parcels to homebuilders, notably Comstock and Lennar. Comstock has managed the site for a decade, facilitating the entitlement process and now focuses on architectural compliance and permitting for housing construction.
Hearthstone has acquired the 271-acre Hitch Ranch in Moorpark for $59.4 million. The deal includes plans for 755 homes, a 6-acre public park, open space, and infrastructure.
The vacant nine-parcel deal for Hitch Ranch has been in limbo for over 30 years. It is considered the most significant development in the area in several decades.
Hearthstone will finance and complete the land development, then sell the lots to homebuilders, including Comstock and Lennar, for construction of the homes.
Comstock Homes has had control of the site via a private agreement with the Milligan family for about 10 years, processing the entitlement before selling to Hearthstone.
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