What's Coming to Simi Valley 2026-27: Pennymac, Homes & More
By Steve Hise & Tricia Garcia, eXp Realty | Real Estate Toolbox
What's coming to Simi Valley in 2026 and 2027? A lot. Pennymac is taking over the former Bank of America building at 450 American St. in Simi Valley, bringing about 1,000 jobs. The city also launched a Film Office, a junior hockey team is targeted for 2027-28, and 364 homes are planned at Lost Canyons with 207 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, selling, or moving here.
Pennymac in Simi Valley: What Jobs Are Coming?
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 capacity for future growth.
An earlier Acorn report put it at 1,000 to 1,200 jobs. As of Oct. 27, 2026, we haven't seen a move-in date announced.
Hanover Company also broke ground this summer on a $75 million, roughly 200,000-square-foot industrial building on Quimisa Drive, off the 118. The city says it's Hanover's first industrial project in Southern California, with space for a variety of employers.
One change goes the other way. AeroVironment plans to move into a new campus in Moorpark, and the Acorn reported 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 Thirty 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. 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.
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 nearly 11 miles of streets
Rehabilitating 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 and prospective partners on what comes next.
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 city says the Sandy Fire burned more than 2,100 acres. Insurance can be a big piece of your monthly cost here. See our guide to homeowners insurance in Simi Valley.
Moving to Simi Valley for a Pennymac job?
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. If you're coming from over the hill, our guide to moving from the San Fernando Valley to Simi Valley walks through it.
What does this mean for sellers?
New jobs can bring new buyers. But price for today's market, not the headlines. You can get a current estimate on our Simi Valley home value page, and we'll walk through it with you.
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 capacity for future growth.
Where is Pennymac's Simi Valley office?
The former Bank of America building at 450 American St., per the city's 2026 State of the City recap.
When is Pennymac moving into the Simi Valley building?
As of Oct. 27, 2026, we haven't seen a move-in date announced. Watch the city's news page for updates.
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.
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, or call or text 805-424-6226.
Sources
City of Simi Valley, State of the City recap, posted 9/17/2026 (checked 10/27/2026)
Simi Valley Acorn, "Mayor puts the shine on Simi Valley's future," 9/26/2026
Simi Valley Acorn, AeroVironment and Pennymac moves, 8/29/2026
Steve Hise & Tricia Garcia, Real Estate Toolbox at eXp Realty
Steve Hise CA DRE #01702055 | Tricia Garcia CA DRE #02032007
This article is general information, not legal or financial advice.
