Newport Beach-based IHP Capital Partners announced today bought a 2.5-acre infill parcel in the Northern California city of San Ramon. The land purchase was part of a joint venture between IHP Capital Partners and Stockton-based The Grupe Co.
IHP Capital Partners and The Grupe Co. will use the land to develop Aria, which would feature 57 for-sale townhomes. Aria marks IHP Capital Partners’ first collaboration with Homes Built for America.
IHP Capital Partner and The Grupe Co. bought the land parcel in an unimproved condition from The True Life Cos. Construction is slated to begin at the end of this year’s fourth quarter, with sales beginning in Q1 2026. Aria is slated to be completed by Q2 2027. Pricing for each townhome has not yet been announced.
Aria is located on Deerwood Road in San Ramon and will feature three- and four-floor townhomes ranging from 1,500 to 2,000 square feet, each. The townhomes were designed by R3 Studios.
The development will feature 48 market-rate townhomes and nine affordable houses.
