Kingsbarn Wins City Council Approval for 480-Unit Terravita Multifamily Project on Former Office Campus in Laguna Hills

Kingsbarn Realty Capital has secured city council approval to transform an 18.5-acre former office campus in Laguna Hills, California into a 480-unit residential development called Terravita, the company announced June 10, 2026.

The Laguna Hills City Council approved the project, which will redevelop the former HERE and Spectrum Summit office campus — a seven-building complex that operated for more than four decades — into a mixed residential community.

Project Details: A Hybrid Multifamily Program

The approved plan calls for 480 dwelling units comprising two distinct product types: 259 duet, duplex, and triplex homes alongside 221 apartments. Of the apartment units, 24 are designated as very low-income affordable housing. No construction timeline, sale price, or financing terms were disclosed in the announcement.

"This approval marks an important milestone for Terravita and reflects years of disciplined planning, collaboration, and perseverance," said Phil Mader, President of Kingsbarn Capital & Development. "We are grateful to the City of Laguna Hills, our project team, and everyone involved in advancing a plan that thoughtfully reimagines an underutilized office campus into much-needed housing for the community."

Office-to-Residential Repositioning

The Terravita approval is an entitlement win rather than a construction start or a real estate acquisition transaction — no sale price or loan terms were disclosed. Kingsbarn described Terravita as the "thoughtful repositioning of an aging office campus into a new residential community designed to help address the region's housing needs while bringing new life to a well-located infill site."

"Terravita is a strong example of how aging commercial properties can be thoughtfully repositioned to meet the evolving needs of Southern California communities," said Jeff Pori, CEO of Kingsbarn. "We are proud to help bring this vision one step closer to reality and look forward to the continued advancement of this important residential community."

Project Team and City Collaboration

The development team includes architects Urban Arena and AO, land use counsel Morgan Gallagher of Cox Castle, and development partner Kelemen Company. Kingsbarn acknowledged the role of the Laguna Hills City Council — including Mayor Don Caskey, Mayor Pro Tempore Jared Mathis, Councilmember Joshua Sweeney, and Councilmember Erica Pezold — as well as Senior Planner Jay Wu and Community Development Director Jennifer Lowe in guiding the entitlement process.

Kingsbarn's Broader Platform

Kingsbarn Realty Capital, the parent company of Kingsbarn Capital & Development, describes itself as a real estate-centric investment firm serving institutional and accredited private investors. The company reports more than $2.6 billion in assets under management and says it has acquired over 320 properties across the United States. Its stated development pipeline exceeds $2 billion and spans multifamily, student housing, medical, industrial, retail, and hospitality real estate.

Terravita represents one piece of that pipeline, and its entitlement approval moves the project from the planning phase toward the next stages of development. Kingsbarn has not announced a groundbreaking date or capital structure for the project.

Sources

Kingsbarn Realty Capital Press Release, June 10, 2026