Correction: A previous version of this story misidentified the Department of Toxic Substances Control as a federal agency instead of a state agency.
An empty scrap yard near the edge of the Eastside neighborhood will soon be turned into a 300-unit mixed-use development after the Riverside City Council unanimously approved the project. Councilmember Steve Hemenway was absent.
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“What’s happening here is very special,” Councilmember Clarissa Cervantes said at the July 14 public meeting, directing her comments to the developers. “[You’ve] found really creative designs and ways to uplift this part of the Eastside community that I think there’s been a lot of overlook.”
Realm, a Newport Beach-based real estate company, is set to build the new homes on a seven-acre plot of land blocks away from its previous project, the 212-unit red and gray Mission Lofts apartment complex near downtown Riverside.
The proposed project, Iron Lofts, would consist of a four-story and two-story building complex that would house a mix of multi-family units, a range of apartment sizes and several townhomes.
Iron Lofts will be built on top of the former site of Riverside Scrap Iron & Metal, a scrap yard that occupied the space for 45 years. For years, the plot of land had remained unoccupied. One of the property’s structures had to be demolished due to a structural failure.
During that time, the California Department of Toxic Substances Control also found that the property’s ground was contaminated. A response plan was created in 2024 to outline how the contaminated soil could be safely removed.
In addition to the new construction, the developers also plan to rehabilitate the historic Barley Mills Building that stills stands on the property, turning it into a fitness center and community space for residents. The building would retain most of its features while still referencing its citrus packing house aesthetic, according to the developer’s schematics.
The proposed project would also feature a swimming pool, dog park and roof deck.
“I wish that everyone who comes down here every week and tells us that we don’t build any housing in Ward 1, and we’re never building housing in Riverside, I wish they were here on the days when we approve these things,” Councilmember Philip Falcone said during the meeting.
The report said that the project would also help the city meet state housing requirements. City data shows Riverside has permitted about 40% of its required market-rate housing units, but has lagged behind in permitting units for lower-income brackets.
Judy Egüez, the city’s senior planner who prepared the report for the council, said in an interview with The Riverside Record that the units would be counted toward the city’s above-moderate income category.
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It is wonderful to find this re-use for this superfund site. However, it represents a huge missed opportunity to have a mixed income project. The project, as outlined, is for those with incomes above $88,000 (Above Moderate Income) where the City has already built 41 percent of its Regional Housing Needs Allocation (3,023) towards this goal. At the same time, the City has only built less than 5% of its RHNA (570) for very low, low and moderate income individuals and families since January 2021. Indeed, on February 10th, 2026, the State of California’s Housing and Community Development department sent a letter warning the City of Riverside that the University Terrace decision coupled with its poor RHNA performance “0% of its very low-income RHNA” jeopardizes its “Prohousing designation” that gives the City priority access to state grants for housing.
In addition, many cities have an inclusionary housing ordinance that mandate that Above Moderate Income Housing Developments including 10 to 20 percent of their units for workforce/affordable/social housing for incomes at 80 percent or below Median Income. Unfortunately, the City Council has not enacted such an ordinance, thus this new development has none.
It is clear from City Councilmember Falcone’s response that he has not listened to the the 12 plus hours of public commitment by the citizens of Riverside who have repeatedly asked for more affordable housing for our college graduates, front-line workers and managers, new police and fire personnel, downsizing seniors and countless others not making $88,000 a year.
Please Councilmember Falcone introduce and get passed an inclusionary housing ordinance and bring forward housing development proposals for housing for very low, low and moderate income Riversiders. You will find you have tremendous support for such initiatives.