TruAmerica Multifamily Breaks Ground on 154-Unit River Walk Townhomes in Santa Clarita

• TruAmerica Multifamily has broken ground on River Walk Townhomes, a 154-unit rental development in Santa Clarita, California.
• The project will include 144 three-bedroom townhomes, 10 affordable apartments, and 8,500 square feet of retail and commercial space.
• First deliveries are expected in spring 2028, with full completion scheduled for fall 2028. First Citizens Bank & Trust Co. provided construction financing.

What TruAmerica Is Building at River Walk

The community will feature 144 two-story, three-bedroom townhomes and 10 affordable apartments. The project will also incorporate approximately 8,500 square feet of commercial and retail space, creating a residential development with a neighborhood-serving component. Planned amenities include a clubhouse with a fitness center and resident lounge, a pool and spa, tot lot, dog park, and outdoor barbecue patios. The townhome format provides a different rental product from conventional apartment buildings, with multi-level layouts and three-bedroom floor plans. TruAmerica acquired the approximately 10-acre site in August 2026 from Chandler Partners. The firm has since closed on construction financing, allowing the project to move forward.

 

 

Who Is Financing and Executing the Project

First Citizens Bank & Trust Co. provided construction financing for River Walk. David Pelaia of JLL arranged the construction loan, while Jim Fisher of Northmarq represented both buyer and seller in the land acquisition. The project is TruAmerica’s first ground-up development, a notable expansion for a company known for investing in existing multifamily properties. The move gives the firm a role in creating new housing from site acquisition through construction and delivery. For investors, the transition into development introduces a different set of execution considerations, including construction schedules, costs, leasing, and delivery risk. River Walk’s rental-oriented townhome product also allows TruAmerica to maintain ownership and operate the community as a single asset rather than sell individual homes.

What River Walk Adds to Santa Clarita’s Housing Market

River Walk will add a mix of market-rate rentals and affordable apartments, alongside retail space. The affordable component represents 10 of the project’s 154 homes, while the remaining units are planned as three-bedroom townhomes. Santa Clarita has seen limited new multifamily production compared with other forms of housing. The development adds rental inventory in a suburban market where townhome-style rentals can offer an alternative to both traditional apartments and for-sale housing. The project also reflects broader investor interest in rental communities with more residential-scale layouts. For landlords, the model can attract households seeking additional space while keeping the property within a professionally managed rental portfolio.

What Comes Next for River Walk Townhomes

The first townhomes and community spaces are expected to be delivered in spring 2028, with full completion planned for fall 2028. Construction progress and leasing plans will be key milestones as TruAmerica executes its first ground-up project. River Walk represents a strategic step for TruAmerica and a new source of rental housing for Santa Clarita. Its combination of townhomes, affordable apartments, retail, and amenities positions the development as a substantial addition to the local residential pipeline.