Great Park Neighborhoods

[Irvinecommuter]

What is a realistic time frame for starting that Phase 2 area right off Hwy 5?
I've seen the sign saying future great park housing in the strawberry fields when I drive by.

I would imagine that's not "desirable" since it's closest to the Hwy and the train and commercial development, so might be the right price.

That's what they used to say about Laguna Altura.  This area is close to Irvine Spectrum and close enough to the freeways to be convenient without being a nuisance.  It might be pricier than previous communities if they dress it up nice enough.

+1
If I had to pick a "center" of Irvine, it would be the spectrum area. Closer the better. I think this will be very premium priced for its proximity, but too bad it will be more dense. also if it's not iusd, all bets off.

This line of reasoning works for Baker Ranch also, I like it.  8)

reaaaaaaaaaaching

Yeah.  Center of Irvine is Marketplace.  Spectrum is nice but it's clearly the southern end of the Irvine.  Marketplace, District, and DJ make up what I consider to be the central triangle for Irvine.

Of course, if you are Asian/Asian-centric, Diamond Jamboree is the center and Orangetree Square is no. 2.

Marketplace/District/DJ are all solidly North. I guess if you're Tustin/North OC based then that is more central. If you are South OC based, Spectrum is central.

Split the difference and call Irvine Center Dr. & Culver intersection the center.

Yes but Spectrum is pretty much on its own and is not as functional as District/DJ/Marketplace.  I generally go to Spectrum if I want to walk around a bit but other than Target, it really has no "functional" appeal.

 

[Bullsback]

Random question...I know that people talk about the Great Parks and how there is a 2% change in mella roos. I was talking to a long time broker over the weekend and he thought that technically all / most of the mella roos bonds had similar previsions that allowed for flexibility. Does anyone know if this is true?

Below is a quote which I pulled from an article talking about RMV's mella roos, which also appears to have a similar 2% cap. Is it just now there are more disclosures / explicit disclosures on this vs. the Irvine Company projects or is the Irvine Company just so far in cahoots with the city that they make all the rules and can pretty much guarantee it stays fix? 

Agencies can also raise the special tax by up to 2 percent each year without a vote, and those fees are not deductible as are standard property taxes.

http://www.ocregister.com/articles/district-502250-sendero-roos.html

 

[Irvinecommuter]

Random question...I know that people talk about the Great Parks and how there is a 2% change in mella roos. I was talking to a long time broker over the weekend and he thought that technically all / most of the mella roos bonds had similar previsions that allowed for flexibility. Does anyone know if this is true?

Below is a quote which I pulled from an article talking about RMV's mella roos, which also appears to have a similar 2% cap. Is it just now there are more disclosures / explicit disclosures on this vs. the Irvine Company projects or is the Irvine Company just so far in cahoots with the city that they make all the rules and can pretty much guarantee it stays fix? 

Agencies can also raise the special tax by up to 2 percent each year without a vote, and those fees are not deductible as are standard property taxes.

http://www.ocregister.com/articles/district-502250-sendero-roos.html

I haven't looked at my docs but I don't recall seeing similar language for Stonegate.

 

[Paris167]

woodbridge seems the most central place in irvine. Spectrum is not central, not even close, its on the south/east outskirts of irvine.

Well that's the thing.  Center of irvine in terms of geography?  Or your personal "center"?  Everyone's center will vary depending on where you live/work/school.

Central means that you can drive 5-10mins north, south, east or west and still be in Irvine. Woodbridge is right in the center of the developed parts of Irvine. Once Orchard Hills / Portola Springs / Great Park get fully built out, Cypress Village will be closer to the center.

The question is - will they be building much in the new developments that make you actually want to go there from other parts of the city? I go to the Crossroads Plaza regularly because it has unique restaurants. To go to The District because it has Michael/Whole Foods/Restaurants. Time will tell if the Great Park has any unique retail appeal.

I think it also depends how fast you can get to these places. Living in North Irvine due to the toll roads, easy access to freeways and jamboree, I feel like I can get to most places including Irvine Spectrum within 10 mins. I love the location we're in - it works for us well. There are some parts of Irvine that are certainly central but due to traffic lights, congestion etc it takes longer to get to places

 

[irvinehomeowner]

Not sure where to put this but was driving down one of the streets at Pavilion Park and saw a For Sale sign in Chinese.

I guess the PP HOA doesn't have a restriction on signage uniformity like some of the TIC hoods.

 

[qwerty]

Or the chinese seller doesn't care about the HOA rules. Gotta respect that.

 

[jmoney74]

The HOA is PP hasn't really taken over yet.  They have the pool and some other common areas.. but the rest of it is still owned by the builder.  They'll hopefully turn it over by year end.

 

[irvinehomeowner]

So are the black walls going to stay like that? They look like they are unfinished... it's a bit weird... and it's random where they are.

 

[jmoney74]

Yes so they are apart of the look.  I think it looks good at night with the lights.. but if you ask me.. the stone veneer walls look better.  Oh well.. I'm not an artist.