Author Topic: How Many More Homes Will Be Built In Irvine?  (Read 8832 times)

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Offline lnc

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How Many More Homes Will Be Built In Irvine?
« on: November 03, 2016, 12:55:28 PM »
How many more new homes will be built in the future?

A little over 11,000 homes.

I was curious about exactly how many more new homes are going to build in the future and after a little research, I've found the answer.  Here’s a summary of what I've found.

Numbers of homes planned to be built:

Orchard Hills: 1925
Eastwood Village: 682
Portola Springs: 1768
Great Park: 6706

Total: 11,081

I did not mention Cypress Village, Cypress Village East, Hidden Canyon and Stonegate since these neighborhood are either near build out or currently ongoing and there are no more future new build in these villages. Also noted that my calculation did not include apartments, low-income housing and high-rise condos and the number of future projects are also subject to change.


« Last Edit: November 05, 2016, 07:05:20 AM by lnc »

Offline lnc

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Re: How Many More Homes Will Be Built In Irvine?
« Reply #1 on: November 03, 2016, 12:59:57 PM »

Orchard Hills
Total: 3482
Completed or Ongoing: 1557
N1 Phase 1: 613
N2: 809
N1 Phase 2: 135 (Varenna)

Future: 1925
N1 Phase 2: 238
N1 Phase 3: 185
N1 Phase 4: 223
N3: 1000
N4: 279

Eastwood Village
Total: 1798
Completed or Ongoing: 1116
Avalon: 156
Helena: 142
Marin: 157
Petaluma 1 & 2: 199
Piedmont 1 & 2: 159
Belvedere: 134
Calistoga: 169

Future: 682 homes
Petaluma 3: 64
Triplex attached condo (1 & 2): 129
Marin (2 and 3): 167
Piedmont 3: 50
SFR: 111
SFR: 80
SFR: 81



Portola Springs
Total: 4802
Completed or Ongoing: 3034
N1: 531
N2: 929
N3: 622
N4A: 488
N6: 464

Future: 1768
N3: 349
N4B: 315
N5A: 470 units
N5B & N5C: 634 units

The number of future new homes in PS with exception of  N5A are subject to change.



Great Park
Total: 8432
Completed or Ongoing: 1726
Pavilion Park: 726
Beacon Park: 1000

Future: 6706
Beacon Park West – District 1N(W): 653
Parasol Park: 727
District Next (District 4): 1102
Altair: 840
District 5: 3384



« Last Edit: July 02, 2017, 08:29:33 PM by lnc »

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Offline acf

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Re: How Many More Homes Will Be Build In Irvine?
« Reply #2 on: November 03, 2016, 01:22:59 PM »
Looks like Eastwood has the least amount left. Least = rare! lol

Offline AW

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Re: How Many More Homes Will Be Build In Irvine?
« Reply #3 on: November 03, 2016, 01:45:58 PM »
I like the views on OH 3, 4 and PS5

Offline USCTrojanCPA

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Re: How Many More Homes Will Be Build In Irvine?
« Reply #4 on: November 03, 2016, 02:39:19 PM »
Mark my words, once they are done and sold all of the homes at Orchard Hills, Eastwood, and Portola Springs Irvine home prices will tick higher.
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Offline lnc

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Re: How Many More Homes Will Be Built In Irvine?
« Reply #5 on: November 03, 2016, 03:09:58 PM »
Yeah, buy one before they run out!

Remember this Irvine Housing Booming thread from 4 years ago about an OCR article that mentioned  over 23,000 new home will be build through 2020.  Now it looks like more than 50% of the estimated residential units are gone and looks like all the TIC's community are going to be sold out in about 5 years. 
« Last Edit: November 04, 2016, 02:28:00 PM by lnc »

Offline someguy

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Re: How Many More Homes Will Be Build In Irvine?
« Reply #6 on: November 03, 2016, 09:41:46 PM »
Fascinating. 

I truly hope there are similar plans to improve the street/freeway infrastructure to alleviate Irvine's growing traffic congestion.

As of 2013 there were 236k residents.

What's the average number of people per home?  3?  And 23,000 new homes from 2012 to 2020?  So approx 69,000 more residents?  That's almost a 30% increase in population. 

The street and freeway planners have their work cut out for them... 

Offline iacrenter

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Re: How Many More Homes Will Be Build In Irvine?
« Reply #7 on: November 03, 2016, 09:45:42 PM »
A lot of things can happen over the next 5 years. TIC had grand plans for RE in 2007 until the world economy tanked.

Offline Ready2Downsize

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Re: How Many More Homes Will Be Build In Irvine?
« Reply #8 on: November 03, 2016, 10:20:53 PM »
Maybe so and maybe FCB will continue to fork over money for them but mello and property taxes rising 2% per year (and compounding), rates rising and homes prices also rising would mean those who need a loan will need rising salaries to afford them which probably means inflation and who knows what the fed does if we actually get that and what effect that has on the business cycle.

I can say one thing..................... those rising property taxes/mello will make the older homes with low/paid off mello and lower HOAs with bigger lots attractive to just tear down and rebuild.


Offline paydawg

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Re: How Many More Homes Will Be Build In Irvine?
« Reply #9 on: November 04, 2016, 12:31:42 AM »
Mark my words, once they are done and sold all of the homes at Orchard Hills, Eastwood, and Portola Springs Irvine home prices will tick higher.

you think Irvine homes will go higher before the GP homes are sold?  Why is that?
Thanks in advance for the 'thanks'!!

Offline gld2

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Re: How Many More Homes Will Be Build In Irvine?
« Reply #10 on: November 04, 2016, 10:00:33 AM »
any comments on Great Park Homes?  Will prices be lower than other The Irvine Company communities?

Offline AW

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Re: How Many More Homes Will Be Build In Irvine?
« Reply #11 on: November 04, 2016, 10:20:49 AM »
I don't know about price, but look for that Mello Roos sheet, a while back I think someone posted the preliminary one for Altair based on sq ft and it's even higher than BP from what I recall...

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Offline irvinehomeshopper

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Re: How Many More Homes Will Be Built In Irvine?
« Reply #12 on: November 06, 2016, 12:23:05 PM »
Once Irvine is built out price stabilizes. There will be no greedy developers trying to benchmark yet a higher price. As soon one sucker FCB buys at a new WTF bench mark price it becomes official. This is true for all new communities. I tracked Australia, New Zealand, Vancouver, Silicon Valley, Irvine, Weschester, North Jersey and the Gold Coast where new homes are being built FCB are driving up the prices. The 3 factors that are important to FCBs: authentic ethnic eateries and market, stellar schools and new homes. Once the area is finished FCBs move on to another upcoming new community. They are wiling to pay more for "new". When FCBs buying "resale" and seller without new home benchmark pricing to justify a higher ceiling FCBs will negotiate down the price and they are not embarrassed even if their offer is insultingly low. Rowland Heights reached it plateau and prices did not go any higher for a while. When the new nomes were being built at near by Brea Rowland Height resale prices benefited from the new benchmark pricings.

In the case of Irvine once it is built out the surrounding areas with proposed new homes will not be able to command a higher benchmark pricing like Irvine. FCBs will migrate to the neighboring cities for lower prices if they find sufficient ethnic amenities near by to justify their purchase.

This is already happening in Newark where 99 Ranch and 85 Celsius Bakery found cheaper rent just outside of Fremont. Newark is now at the infancy of a future buying frenzy. New communities are currently being built.
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Offline test

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Re: How Many More Homes Will Be Built In Irvine?
« Reply #13 on: November 06, 2016, 01:34:32 PM »
Once Irvine is built out price stabilizes. There will be no greedy developers trying to benchmark yet a higher price. As soon one sucker FCB buys at a new WTF bench mark price it becomes official. This is true for all new communities. I tracked Australia, New Zealand, Vancouver, Silicon Valley, Irvine, Weschester, North Jersey and the Gold Coast where new homes are being built FCB are driving up the prices. The 3 factors that are important to FCBs: authentic ethnic eateries and market, stellar schools and new homes. Once the area is finished FCBs move on to another upcoming new community. They are wiling to pay more for "new". When FCBs buying "resale" and seller without new home benchmark pricing to justify a higher ceiling FCBs will negotiate down the price and they are not embarrassed even if their offer is insultingly low. Rowland Heights reached it plateau and prices did not go any higher for a while. When the new nomes were being built at near by Brea Rowland Height resale prices benefited from the new benchmark pricings.

In the case of Irvine once it is built out the surrounding areas with proposed new homes will not be able to command a higher benchmark pricing like Irvine. FCBs will migrate to the neighboring cities for lower prices if they find sufficient ethnic amenities near by to justify their purchase.

This is already happening in Newark where 99 Ranch and 85 Celsius Bakery found cheaper rent just outside of Fremont. Newark is now at the infancy of a future buying frenzy. New communities are currently being built.

Arcadia

Offline Ready2Downsize

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Re: How Many More Homes Will Be Built In Irvine?
« Reply #14 on: November 06, 2016, 03:50:21 PM »
Once Irvine is built out price stabilizes. There will be no greedy developers trying to benchmark yet a higher price.  They are wiling to pay more for "new". When FCBs buying "resale" and seller without new home benchmark pricing to justify a higher ceiling FCBs will negotiate down the price and they are not embarrassed even if their offer is insultingly low.


You got that right. I experienced that insultingly low offer and nasty "no one but Chinese can buy your house so u better hurry and take my offer or I'll buy the next door neighbors for even less and you won't ever see close to your price" attitude.

I thought.........well when all your Chinese friends do the same to you won't see your buying price again either so there! LOL!


 

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