By Eric Engelbert
A Strawberry Farm Becomes a Neighborhood
For decades, the land at the corner of Euclid Street and Heil Avenue in Fountain Valley was a working strawberry farm. It sat across the street from Mile Square Regional Park and surrounded by single-family homes. In December 2021, Shopoff Realty Investments and Lennar Homes paid $65 million for the 18-acre site with a very different plan in mind. That plan is now approved, the dirt is moving, and 626 new homes are on the way. Here is a full look at what is being built, what we know, and what it means for people buying or selling near this corner.
What Is Being Built at Euclid + Heil
The development combines four types of housing on one site, which is not something Fountain Valley has seen in a long time. Here is how it breaks down.
183 for-sale townhomes built by Lennar. These are three-story homes with attached two-car garages and private patios. There are five floor plans ranging from 1,825 to 2,285 square feet, with three or four bedrooms, 2.5 to 3.5 bathrooms, and a home office or desk area built into the layout. Townhome residents will share a 15,500 square foot recreation area in the center of the community that includes a pool, spa, covered seating, outdoor grills, and a community playground.
36 for-sale triplexes, which are two-story homes sold individually. These give buyers a single-family feel with a bit more privacy from the surrounding apartment buildings.
304 market-rate apartments for renters, spread across four courtyards. The apartment design includes an entertainment courtyard with outdoor movie lawn and summer kitchen, a game courtyard with billiards and a game lawn, a pool courtyard with cabanas and a spa, and a zen garden with a yoga lawn and fire pits. There are also shared co-working spaces inside the building.
83 affordable senior apartments set aside for older residents who qualify based on income. These are part of the apartment portion of the project. Browse Fountain Valley homes near this area.
The Location: Right Across from Mile Square Park
The site sits on Euclid Street between Warner Avenue and Edinger Avenue, directly across from the east entrance to Mile Square Regional Park. The park is one of Orange County's largest, covering 640 acres with two golf courses, soccer and baseball fields, picnic areas, and miles of walking and biking paths. Being steps away from that park is one of the most compelling things about this location for buyers.
The freeway access is also easy. The 405 is just a few minutes away, which puts the project close to jobs in Irvine, Costa Mesa, and Long Beach without being right up against freeway noise. Huntington Beach, South Coast Plaza, and the beach cities are all a short drive.
The site itself was previously zoned for single-family homes at five units per acre. In November 2023, Fountain Valley rezoned it to allow up to 30 units per acre as part of the city's plan to meet state housing requirements. That rezoning is what made this project possible.
The Townhomes: What Buyers Need to Know
The 183 Lennar townhomes are the for-sale product that most buyers will focus on. Three stories with a private patio at the front door and a two-car garage off an alley in back. The five floor plans break down like this:
- Plan 1: 1,825 sq ft, 3 bedrooms, home office, 2.5 bathrooms, 2-car garage
- Plan 2: 1,970 sq ft, 3 bedrooms, home office, 2.5 bathrooms, 2-car garage
- Plan 3: 2,285 sq ft, 4 bedrooms, desk area, 3.5 bathrooms, 2-car garage
Homes are grouped in seven-unit, five-unit, and three-unit buildings throughout the central and southern part of the site. The layout uses landscaped pathways between buildings to connect the community and give it a neighborhood feel rather than a dense apartment-block feel.
No pricing has been announced. Lennar has not opened an interest list yet. Prices will be set closer to when the buildings are ready, which is expected in 2028 to 2029. For reference, new Lennar townhomes in nearby cities in Orange County have been ranging from the $700,000s to over $1 million depending on size and location. Fountain Valley pricing will depend on market conditions at the time, but the Mile Square Park location is likely to push these toward the higher end of comparable new construction.
Where the Project Stands Right Now
As of mid-2026, the site is actively in the grading phase. Heavy equipment is on the property, and horizontal work, meaning underground utilities, roads, and infrastructure, is expected to continue through late 2026. Vertical construction, the actual buildings, runs from 2026 through 2029.
Here is the full timeline as published by the developers:
- June 2025: Planning Commission approval
- Early to mid-2026: Site grading and underground infrastructure (underway now)
- 2026 to 2029: Building construction
- 2028 to 2029: First homes and apartments available for sale and rent
The developers behind this project are not new to Fountain Valley. Shopoff Realty Investments is the same Irvine-based firm that also owns Bolsa Pacific at Westminster, the $2.5 billion project currently under construction on the former Westminster Mall site. Lennar is one of the largest home builders in the country and builds new communities across Orange County regularly.
What We Do Not Know Yet
There are a few things that are simply not public information at this stage, and it is better to say so than to guess.
Pricing: Neither the townhome sale prices nor the apartment rents have been announced. The official FAQ on the project website says pricing will be set based on market conditions at the time the homes are ready. That is a straightforward answer, and it means any numbers you see elsewhere are estimates, not confirmed prices.
Interest list: A formal interest list for the townhomes has not been opened. Anyone who wants to be first in line should check euclidandheil.com for updates or reach out directly to Lennar when the time gets closer.
Floor plan availability: It is not yet clear how many of each floor plan type will be offered or whether buyers will be able to choose upgrades and finishes. That information typically comes when the sales office opens.
I will update this post when pricing and sales timing are announced.
Where Euclid + Heil Fits in Fountain Valley's Bigger Picture
California requires Fountain Valley to plan for 4,839 new homes by 2029. The city got its housing plan approved by the state in October 2022, which put it in a better position than cities that waited. Euclid + Heil's 626 units account for about 13 percent of that total from one 18-acre site.
The other major new project in the city is the JPI development at 10231 Slater Avenue, where a 272-unit luxury apartment building broke ground in June 2025. That project includes 33 affordable units and will bring Fountain Valley's first large luxury apartment complex to the market by 2027. Together, Euclid + Heil and the Slater Avenue project will add nearly 900 homes to a city that has not seen this level of new construction in over 20 years.
You can see how Fountain Valley compares to other cities on the OC New Developments page.
What This Means for Buyers and Homeowners Nearby
For buyers interested in the townhomes: This is a Lennar project next to a major regional park in a quiet residential part of Fountain Valley. If that combination appeals to you, getting on the radar early matters. Lennar interest lists tend to fill quickly for new OC communities, and the best floor plans go first. Keep an eye on euclidandheil.com and I am happy to flag you when the sales office opens.
For homeowners near the corner of Euclid and Heil: The two to three years of grading and construction will bring noise and truck traffic to the surrounding streets. That disruption is real and worth knowing about if you are planning to list your home during that window. Once the project is finished and occupied, having a well-designed walkable community next to Mile Square Park is likely to help, not hurt, nearby values. Buyers pay attention to what is close by.
For investors looking at rentals nearby: The 304 market-rate apartments at Euclid + Heil will set a new benchmark for apartment rents in this part of Fountain Valley. That typically pulls nearby rents up over time, since older buildings have to compete on price or amenities. If you own a rental property close to this site, that is worth tracking. You can browse multi-family homes for sale in Fountain Valley to see what is currently on the market.
Watching This One Closely
Euclid + Heil is the most significant new-home project in Fountain Valley in a generation. If you want to be among the first to know when the Lennar sales office opens, or you want to talk through what this project means for a home you already own nearby, reach out anytime.
