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Riverside County development to test vigor of area's housing recovery
Riverside County development to test vigor of area's housing recovery

After stalling amid the housing bust, a 1,400-home development in Riverside County is coming back to life. An early October grand opening is set for the first phase of Spring Mountain Ranch, a 785-acre master-planned community nestled in a canyon northeast of UC Riverside. The project — one of the largest of its kind in 20 years — represents a big bet by developer IStar Financial that the housing market in this epicenter of the foreclosure crisis has healed significantly. If the homes sell well, economists say, that could persuade others to break ground along this interior stretch, near the 215 Freeway. "It's a test of starting the whole Inland Empire game...

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