More Orange County home building is in the works! We shared the interesting news that Toll Bros will be building a large master-planned community in Irvine, and now Tustin had to get in on the mix. Recently, the Tustin City Council picked Irvine homebuilder Standard Pacific Homes to build 231 to 238 new homes at the Tustin Legacy project, a massive redevelopment on the former Marine Corps air base. Orange County is going to be packed to the gills with homes, old and new!
The competition to get the bid for the development was tough. A dozen builders applied to be the first to build for-sale homes on the 51-acre parcel, which is located near Jamboree Road north of Warner Avenue. Wondering about the ever-present Irvine Co.? Oh, they’re involved! Along with St. Anton Partners they will be building apartments. The Irvine Co. plans to build up to 744 apartment units on two parcels, one with about 20 acres and the other with about 7.5 acres. However, the Irvine Co. since assigned the 7.5 acre parcel, with up to 211 apartments, to St. Anton Partners.
This project has been through its struggles but builders have been clamoring to be part of the Tustin Legacy ever since the city took the project over from Shea Homes, who withdrew after calling the project worthless. The city took over the job of selecting builders to develop the 820-acre Tustin Legacy project in about 13 phases. How did Standard Pacific get the job? According to the city, it was chosen because of its willingness to build all the infrastructure, help form a special district to raise money for the infrastructure for the entire project, and pay cash.
So what kind of properties will we find in the north Orange County development? Most of new homes will be single-family, detached houses, and a smaller number will be attached, “carriage house” style homes. The development also will include about eight acres of parks and construction is expected to begin as soon as the extension of Tustin Ranch Road is finished in mid-2013.
The development will be large and potentially provide many new housing opportunities for Orange County residents and those interested in joining the OC lifestyle. For more information on this and other real estate developments throughout Orange County, call Cheryl Marquis today.
Cheryl Marquis has been an active and successful real estate agent in South Orange County, California for more than 25 years. As a TOP PRODUCER in her company, Cheryl has received the specific accreditation of a Certified Relocation Specialist (CRS) and Accredited Buyers Agent (ABR) and is a member of the Who’s Who of Luxury Real Estate, a select network of the world’s leading luxury home agents. Cheryl is a member of C.A.R. (California Association of Realtors), N.A.R. (National Association of Realtors) and O.C.A.R. (Orange County Association of Realtors). To talk to Cheryl about buying or selling a home in Orange County, call her at 949.683.1501 or visit her online at www.CherylSellsOC.com.