What's Coming to Simi Valley in 2026-2027: Jobs, Homes & More
By Steve Hise & Tricia Garcia, eXp Realty | Real Estate Toolbox
Quick answer: A lot. Pennymac is bringing about 1,000 jobs to Simi Valley, the city launched a new Film Office, and a junior hockey team is targeted for the 2027-28 season. On the housing side, 364 homes are planned at Lost Canyons and 207 more are proposed at North Canyons.
That's the short version from Mayor Dee Dee Cavanaugh's State of the City address on Sept. 16, 2026.
Here's what it means if you're thinking about buying here or moving here.
What jobs are coming to Simi Valley?
The biggest one is Pennymac. The mortgage company is taking over the former Bank of America building at 450 American St. The city says that's about 1,000 jobs, with room to grow.
An earlier Acorn report put it at 1,000 to 1,200 jobs. The move-in date hasn't been announced yet.
Hanover Company also broke ground this summer on a $75 million industrial building at 903 Quimisa Drive, off the 118. It's about 200,000 square feet, and it's slated to finish in summer 2027.
One change goes the other way. AeroVironment plans to move into a new campus in Moorpark, fully up and running in 2029. Its Simi Valley leases end between 2027 and 2030. The jobs stay nearby, but some commutes will change.
Why does the new Film Office matter?
Simi Valley's the only city in Ventura County inside the entertainment industry's 30-Mile Zone. That makes it easier for productions to film here.
And they are. Through Sept. 15, the city logged at least 482 film production days in 2026. That's about 63% more than all of 2025.
The new Film Office will work on bringing in more productions and making permits easier. If you work in film or TV, that's worth knowing when you pick where to live.
Is Simi Valley really getting a hockey team?
It's in the works. In June, the United States Hockey League named Simi Valley one of six West Coast markets for a new team. The target is the 2027-28 season.
The City Council formed a committee to look at arena sites and financing. No venue's been picked yet. So think "planned," not "done."
What new homes are planned in Simi Valley?
Two projects came up.
Lost Canyons. This is the former Lost Canyons golf course, north of Lost Canyons Drive and west of Tapo Canyon Road. The course closed in 2016. The plan calls for 364 single-family homes, with 184 in the first phase.
In August 2026, the city approved moving 180 of those lots north of Lost Canyons Drive. That keeps Dry and Tapo canyons as open space. Build dates and prices haven't been confirmed yet.
North Canyons. This one's proposed, not approved. It's north of the 118, west of Erringer Road, behind Simi Valley Town Center. The plan is 157 single-family homes and 50 multifamily units. It still needs annexation into the city, and the city lists the hearing as continued with no set date.
The mayor also mentioned more apartment and affordable housing projects around town.
What about roads and city services?
The city plans nearly $28 million in water, sewer, and street work for the 2026-27 fiscal year. That includes:
Resurfacing almost 11 miles of streets
Fixing more than 18,000 feet of sewer lines
Connecting all 121 traffic signals through FiberCity so they can be monitored remotely
The mayor also talked about possibly moving the Simi Valley Public Library property to city ownership. And the city's still working with the owner of Simi Valley Town Center on what comes next.
What's the Simi Valley housing market doing right now?
Prices are steady to a little softer. Redfin shows a median sale price of $804,468 in August 2026, down 1.8% from a year earlier. Homes sold in a median 43 days.
Movoto shows a similar picture for September. The median list price was about $805,000, and homes sat a median 44 days.
So there's some room to negotiate. But homes that are priced right still sell.
What does this mean for buyers?
News isn't a price forecast. Nobody can promise these projects will raise home values. Buy what fits your budget and your life today.
Test your commute. New jobs on American St. and Quimisa Dr. can change traffic. Drive your route at rush hour before you write an offer.
Watch new construction. If Lost Canyons interests you, ask your agent to track when sales open.
Get insurance quotes early. The Sandy Fire burned more than 2,100 acres in May. Insurance can be a big piece of your monthly cost here.
What does this mean if you're relocating?
If you're moving for a job at Pennymac, in film, or at one of the new industrial spaces, start with where you'll work.
Then compare commutes from different parts of town, like Wood Ranch, Central Simi, and near Town Center. Your drive can change a lot depending on which side of the valley you're on.
What does this mean for sellers?
New jobs can bring new buyers. But today's median is a bit below last year, so price for today's market, not the headlines.
If you live near Town Center, American St., or the west end, buyers may ask about nearby projects. Know the basics so you can answer.
What should homeowners watch?
Planning Commission and City Council agendas for Lost Canyons and North Canyons
Street resurfacing schedules for your neighborhood
Updates on the hockey arena site and Town Center
Frequently Asked Questions
How many jobs is Pennymac bringing to Simi Valley?
About 1,000, according to the city, with room to grow. The company is moving into the former Bank of America building at 450 American St.
When will Simi Valley get a hockey team?
The United States Hockey League is targeting the 2027-28 season. An arena site hasn't been chosen yet.
How many homes are planned at Lost Canyons?
364 single-family homes, with 184 in the first phase. Build dates and prices haven't been announced.
Is the North Canyons project approved?
Not yet. It's proposed for 157 single-family homes and 50 multifamily units, and it still needs annexation into the city.
What's the median home price in Simi Valley?
Redfin shows $804,468 for August 2026, down 1.8% from a year earlier.
Will these projects raise Simi Valley home values?
No one can promise that. They're worth knowing about, but buy based on your budget and needs today.
Thinking About Buying or Moving to Simi Valley?
Let's talk it through. Book a quick call with Steve Hise and Tricia Garcia at RealEstateToolbox.com or call 805-424-6226.
