Newport Beach-based IHP Capital Partners and Vancouver-based Intracorp Homes have teamed up to build new homes in Arcadia.

Late last month, the two companies announced the formation of a joint venture to acquire a 2.9-acre property located at 2607 S. Santa Anita Avenue, which will be developed into a 33-home project called Miren.

2607 S Santa Anita AvenueGoogle Maps

Each new house will stand two stories in height and sit on 2,500-square-foot lots, with three- and four-bedroom floor plans ranging from 1,820 to 2,120 square feet. Prices for Miren have yet to be announced.

Home sales are expected to commence in the second quarter of 2023.

IHP and Intracorp, both of which have experience building for-sale housing in Southern California, are not the first firms to target this part of Arcadia. The project site abuts a former shopping mall which was recently redeveloped by Lennar and the Olson Company with 80 homes and commercial uses.