Three housing projects will bring 757 new residences to housing-starved Orange County.
In Tustin, Brookfield Residential has begun sales of 400 residences planned for The Landing at Tustin Legacy.
In Irvine, Irvine Pacific will soon be selling 309 single-family homes in Portola Springs.
In Silverado, Tri Pointe Homes has just started construction of 48 single-family homes at Saddle Crest off Santiago Canyon Road.
Countywide, builders are scrambling to meet housing demand. In 2022’s first five months, 998 new homes were sold in Orange County — down 28% from the year-earlier period, DQNews reported.
The key problem is there’s been no inventory to sell. But builders in Los Angeles and Orange counties filed 3,932 permits to build single-family homes in January through April, up 8% from the start of 2021, according to the National Association of Home Builders.
In Tustin
The Landing has three new neighborhoods for sale on the old military base site — and roughly 90 homes have already been sold.
Terra will have 154 flats and townhomes ranging in size up to 2,275 square feet with one to three bedrooms, plus three bathrooms. Pricing will run from the $600,000s to $900,000s.
The 129 Luna townhomes will be as large as 2,270 square feet with three to four bedrooms priced from the $900,000s to over $1,000,000.
Cira will have 117 detached, single-family homes up to 3,398 square feet in space with 4 or 5 bedrooms. The largest model includes a multi-generation suite. Prices will run from $1.2 million to $1.5 million.
“As it evolves, Orange County continues to experience a shortage of housing at all levels, from first-time buyers to move-up families, and opportunities to build are limited,” said Brookfield vice president Caitlyn Lai-Valenti. “Fortunately, The Landing brings thoughtfully designed new homes to these market sectors.”
In Irvine
The Irvine Co.’s homebuilder plans to start selling the residences near the 241 freeway in mid-July. No pricing was announced.
The neighborhoods of Azul (94 homes) and Fiore (89 homes) will have residences with 2,035 to 3,176 square feet in living space with 3 to 5 bedrooms and 2.5 to 4.5 bathrooms.
Cielo’s 126 homes will be larger, ranging from 3,225 to 3,473 square feet, with 4 or 5 bedrooms and 4.5 to 5.5 bathrooms. All will have two-car garages.
“Portola Springs has become one of Irvine’s great villages,” says Dave Prolo, president of Irvine Pacific. “Buyers are drawn to its serene setting and the benefits of living in a master planned community that is regularly ranked among America’s top cities for schools, safety, parks and quality of life.”
In Silverado
Tri Pointe is starting to build what will be 38 single-family homes at a 65-lot rural community in the Santa Ana Mountains’ foothills that was developed by Rutter Development.
The Adler neighborhood will feature homes on large lots for Orange County — an average of 18,268 square feet. The residences — 12 of which will be single-story — will range form 4,199 to 4,968 square feet with three to five bedrooms, 3.5 to 4.5 bathrooms, and three-car garages.
Prices will start in the $2 million range. Sales will begin this fall.
Jonathan Lansner is the business columnist for the Southern California News Group. He can be reached at jlansner@scng.com
Source: Orange County Register
Be First to Comment