A first-of-its-kind, mixed‑use luxury apartment complex in a rural Inland Empire city known for its equestrian heritage shows how new developments can successfully integrate into communities that have been wary of growth.
Norco Valley Square has won a 2026 CoStar Impact Award, as voted on by judges with knowledge of the market.
Developed by The Previti Group and designed by AO Architects, the 321-unit project marks a historic milestone as the first multifamily development of its scale in Norco, an area in western Riverside County, just north of Corona and east of the Orange County line that had seen little meaningful growth for years.
"The project added much-needed housing while setting a new standard for smart, community-driven growth and represents a true market breakthrough," said contest judge Lynn Yangchana, vice president at Ontario, California-based MGR Real Estate.
Norco Valley Square's origins date back to 2020, when The Previti Group acquired a 7‑acre site in a city where agricultural and equestrian traditions shape both daily life and civic expectations.
Introducing higher-density residential development into a city that prides itself on being "Horsetown USA" came with resistance. Residents feared change, and the absence of similar housing meant there was no precedent to ease concerns.
Instead of ignoring the pushback, the development team took the opposite approach: extensive outreach, listening sessions and a commitment to honoring Norco’s heritage in every aspect of the final plan. That patience culminated in a groundbreaking in September 2024.
Norco Valley Square offers 321 one-, two- and three-bedroom residences tailored to multigenerational needs.
The property's amenity suite rivals those in larger urban markets: a resort-style pool, outdoor barbeque areas, walking trails, landscaped paseos, coworking lounges, a fitness center, pickleball court and pet-friendly features including a dog park and pet spa.
The project also introduces mixed-use retail space, adding neighborhood-serving uses that foster walkability and boost the local economy.
About the project: Norco Valley Square pays homage to the city’s early development history, including the 1920s-era vision of Rex B. Clark, developer of both Norco’s prominent Norconian Hotel and Spa. The project’s farmhouse‑inspired architecture reflects the community’s rural character while introducing refined, contemporary finishes that elevate the city’s housing options without overshadowing its identity.
What the judges said: "The team created a thoughtful model for addressing skepticism in tradition-rich communities. Their approach offers a valuable blueprint for other developers navigating similar concerns and community dynamics," said Kavita K. Bhatia, CEO at Acreage Real Estate in Chino, California.
They made it happen: The Previti Group Chief Executive Officer Jimmy Previti; AO Architects; Asset Living; and James Previti Sr. with Guardian Capital.