New owner plans 'middle-class' housing community for Cathedral City neighborhood development previously stalled by bankruptcy
KESQ The new owners of an undeveloped section of the Verano Master Planned Community in Cathedral City tell News Channel 3 their goal "is to create...
KESQ The new owners of an undeveloped section of the Verano Master Planned Community in Cathedral City tell News Channel 3 their goal "is to create a product and new supply that will fit the needs of the growing middle-class community in the Desert (without breaking the bank)" The neighborhood is located at Verano and Rio Guadalupe. Northlight Capital Partners LLC acquired the remaining 138 acres of residential development land for about $20 million. According to a news release, "the property includes 892 partially platted lots entitled for a variety of detached single family residential and multifamily units.