The company that gave birth to Orange County communities like Mission Viejo, Rancho Santa Margarita and Ladera Ranch is unveiling its latest project for its one-time 19th-century cattle ranch, this time with plans to deliver smaller homes that are affordable to more buyers.

Dubbed Rienda, the new “village” will consist of about 2,700 new homes carved out of the hills 4 miles east of San Juan Capistrano along Ortega Highway.