Calabasas Development Gets First Tenant, Debuts Model Homes

New Home Co. Inc. said it has leased its first tenant for its new residential and retail development in Calabasas and will open model homes to the public this weekend. The Aliso Viejo home builder has leased 2,700 square feet within the Avanti development at 23500 Park Sorrento to SoulCycle, the indoor cycling chain. SoulCycle will be located in the development’s mixed-use building, which will have 11,000 square feet of retail space on the ground floor and eight apartments above, set aside for those with very low incomes. The apartments will be available by June and the businesses in the summer, according to New Home. Parking for the apartments and retail businesses will be on two levels below the retail businesses. During the open house on Saturday and Sunday, visitors can tour the two for-sale home models. The community will eventually include 72 attached, apartment-style homes in seven buildings with luxury amenities. The for-sale units offer two or three bedrooms and range from 2,109 to 2,662 square feet with decks, balconies and semi-private elevators. Prices start at mid-$1 million. Buildings include lobbies, lounges and parking garages. The community will also have a swimming pool, spa, deck, outdoor fireplace area, club room, fitness center and gathering space. Avanti was initially called The Village at Calabasas, which was a temporary name, and sits on the property of the former Calabasas Inn near Old Town Calabasas. The developer started pre-selling homes last year, and residents will begin moving in this spring, the company said.