Great Park - Rise Park - District 5 North

IHS3000

New member
Here is another future development in the Great Park Neighborhoods (near Portola High and the Wildlife Corridor). District 5 North consists of the following:

* 238 gross acres

* 1,637 market rate units (consists of 1,513 residential condos and 124 single family detached homes)

* Four private parks (13 acres)

* 143 affordable units (family apartments are near the Great Park?s Wildlife Corridor. The affordable units have their own recreation area or park # 5)

* K-8 school

* Child care center

* Multi-use properties (44,600 sq ft) - Maybe some retail?

* District 5 South plans are not out yet

Proposed Home Developments for District 5 North:

1. Townhome
2. Stacked Flats - 8 plex
3. Triplex
4. Rowtowns
5. Twin Towns
6. Corner Building
7. 26 x 67
8. 35 x 75
9. 35 x 80
10. 38 x 68
11. 70 x 65

Note: In District 5 North, over half of the new home developments  appear to be attached. The possible detached homes at District 5 North appear to be closer to the future golf course and the future Agua Chinon trail.

City Plans:

At this time, the city is still reviewing the District 5 North plans:

http://www.irvinequickrecords.com/sirepub/mobilemtgviewer.aspx?meetid=5637&doctype=Agenda

I believe District 5 North will start selling once Cadence Park sales inventory starts to dwindle.


Summary:

9,500 homes allowed at Great Park

?To date, 5,596 residential units have been entitled? (Pavilion, Beacon, Parasol, Cadence, Altair and Novel)

+

1,780 homes are proposed for District 5 North

Total: 7,376 entitled homes for Great Park (about 2,124 homes left for future entitlement at Base Camp, District 5 South and District 6)

index.php


index.php


index.php


index.php
 

Attachments

  • AFA088D4-C1D8-459D-81D2-6FCE4EDFE74D.png
    AFA088D4-C1D8-459D-81D2-6FCE4EDFE74D.png
    789.9 KB · Views: 9,089
  • F291B6E8-007D-4766-BE34-1CF725328E60.png
    F291B6E8-007D-4766-BE34-1CF725328E60.png
    631.1 KB · Views: 7,923
  • 384BDBDC-1B9F-4822-A80C-CCF5DF7CC16D.png
    384BDBDC-1B9F-4822-A80C-CCF5DF7CC16D.png
    1.1 MB · Views: 7,733
  • 60181E70-D946-460E-B1AA-D9A92321D91E.png
    60181E70-D946-460E-B1AA-D9A92321D91E.png
    616.8 KB · Views: 8,443
Private park information (four parks) in District 5 are attached. Parks have multiple pools including an Olympic sized pool at park #2!

index.php


index.php


index.php


index.php
 

Attachments

  • 8B792EF6-CE99-4D03-A1D8-14AFDF3BDA1E.png
    8B792EF6-CE99-4D03-A1D8-14AFDF3BDA1E.png
    626.8 KB · Views: 7,626
  • 250B21E2-25C3-468C-9FBA-250E93485811.png
    250B21E2-25C3-468C-9FBA-250E93485811.png
    650.4 KB · Views: 7,496
  • CBC1CEA8-A811-443C-A16A-9FB0DA4A4A92.png
    CBC1CEA8-A811-443C-A16A-9FB0DA4A4A92.png
    541.1 KB · Views: 7,432
  • 5114455B-2BB4-42D4-BC86-DC237D144DE3.png
    5114455B-2BB4-42D4-BC86-DC237D144DE3.png
    559.1 KB · Views: 7,422
Proposed elevations and floor plans are now online for Great Park District 5 North which includes modern architecture and lots of floor plans with elevators.

Floor plans for future purchase have a range from 808 sq ft to 3,874 sq ft with one to five bedrooms.

Note: some of the city?s plans are PDF files which are over 20 mb, so it might be easier to view the floor plans on a tablet or computer.

http://www.irvinequickrecords.com/sirepub/mobilemtgviewer.aspx?meetid=5669&doctype=Agenda

index.php


index.php


index.php


index.php
 

Attachments

  • 92A1191A-E3CA-4F00-BC5E-9353EE356C02.png
    92A1191A-E3CA-4F00-BC5E-9353EE356C02.png
    726.6 KB · Views: 6,951
  • 69143E02-15F1-4E88-84C3-07722EB21145.png
    69143E02-15F1-4E88-84C3-07722EB21145.png
    653.2 KB · Views: 6,856
  • 8C65E829-3DE1-4AD0-88E9-10D216338E9F.png
    8C65E829-3DE1-4AD0-88E9-10D216338E9F.png
    509.1 KB · Views: 6,855
  • C1369939-F891-4D8F-B1EB-0CAB32D577EE.png
    C1369939-F891-4D8F-B1EB-0CAB32D577EE.png
    550.9 KB · Views: 6,816
index.php


index.php


index.php


index.php


IHS3000 said:
Proposed elevations and floor plans are now online for Great Park District 5 North which includes modern architecture and lots of floor plans with elevators.

http://www.irvinequickrecords.com/sirepub/mobilemtgviewer.aspx?meetid=5669&doctype=Agenda
 

Attachments

  • DF705FFD-853B-4C01-B414-2384F409F195.png
    DF705FFD-853B-4C01-B414-2384F409F195.png
    362.9 KB · Views: 6,659
  • 93CB90D0-1E7D-4530-B84A-D52FAD363AFC.png
    93CB90D0-1E7D-4530-B84A-D52FAD363AFC.png
    1.1 MB · Views: 8,212
  • 5A2E4247-9857-49A3-955D-1F2BCB1508FE.png
    5A2E4247-9857-49A3-955D-1F2BCB1508FE.png
    215.9 KB · Views: 6,671
  • 5EE85954-268C-4F80-90F6-65BAE119B0AD.png
    5EE85954-268C-4F80-90F6-65BAE119B0AD.png
    189.8 KB · Views: 6,766
index.php


Updates on Great Park District 5:
https://seekingalpha.com/article/42...ddad-q4-2018-results-earnings-call-transcript

From Fivepoint: ?planned for seven products ranging from 1,500 to 4,200 square feet.?


https://www.ocbj.com/news/2019/mar/13/218m-land-deal-irvine/

?Five Point Holdings, LLC (NYSE: FPH) has sold an additional 41 acres of land at its Great Park Neighborhoods development in Irvine for about $218 million, the company announced Wednesday as part of its fourth quarter earnings report.

The sale involves two undisclosed builders, Irvine-based FivePoint officials said during a conference call.

Lennar Corp., an investor in both Five Point and the Great Park Neighborhoods development, appears to be one of the two builders.

The Miami-based builder, with large West Coast operations in Irvine, recently set up a land banking agreement for a forthcoming project in what?s referred to in city records as ?District 5.?

Property records indicate Lennar?s deal is valued at about $121.5 million.

The latest Five Point sale represents an increase in land value when compared to the master developer?s last big sale at the Great Park Neighborhoods, made last year.

The $218 million sale is for land that will hold 518 homes, comprising seven different products. The deal works out to about $421,000 per home lot, and $5.3 million an acre.

Compare that to last year?s sale to William Lyon Homes, which paid $166 million for 33 acres, or $5 million per acre and about $310,000 per lot. That builder?s project, called Novel Park, is getting close to opening.

In addition to commercial development, the Great Park Neighborhoods land is entitled for about 9,500 homes, although recent negotiations with the city regarding affordable housing units could push that total past the 10,000-unit mark.

A little more than half of that land is either built or in the process of being developed...?
 

Attachments

  • B1996ADB-16F1-4050-9F4F-494492C963A6.png
    B1996ADB-16F1-4050-9F4F-494492C963A6.png
    1,020.1 KB · Views: 6,300
  • E23CF4C1-ECB1-4AF4-8F8C-1CA80651307F.png
    E23CF4C1-ECB1-4AF4-8F8C-1CA80651307F.png
    1.2 MB · Views: 7,753
  • C9FED18D-6101-44AB-BA32-05C8F4F635C9.png
    C9FED18D-6101-44AB-BA32-05C8F4F635C9.png
    1.2 MB · Views: 7,775
Street names are up too.

index.php
 

Attachments

  • DC7919E0-ADA9-4132-9577-BD2CE1F3ECBE.png
    DC7919E0-ADA9-4132-9577-BD2CE1F3ECBE.png
    1.3 MB · Views: 5,250
  • 4B7DEE80-C923-432E-AAEA-3F8F2430F81B.png
    4B7DEE80-C923-432E-AAEA-3F8F2430F81B.png
    1 MB · Views: 5,319
  • 10CCDCE8-5FFF-4E00-8990-AF00411D3DCE.png
    10CCDCE8-5FFF-4E00-8990-AF00411D3DCE.png
    1.2 MB · Views: 7,815
Rise Park update from builders is now online. Models are projected to open in possibly February 2020.

* 518 homes, comprising of seven different developments from Lennar and Pulte
* Pricing Coming Soon
* Community is centered around a garden, Zen-like spaces, pools and play areas
* Homes are down the street from Portola High



1. Bolero (Lennar)

index.php


* Attached townhomes
* Square footage: NA
* Three story floorplans that feature open-concept living, decks and first-floor bedrooms
https://www.lennar.com/new-homes/ca...rvine/great-park-neighborhoods/bolero-at-rise



2. Evergreen (Pulte)

index.php


* Attached three-story townhomes
* Square footage: NA
* 3 bedrooms
* Private patios
https://www.pulte.com/homes/california/orange-county/irvine/evergreen-at-rise-210446



3. Almeria (Lennar)

index.php


* Square footage from 2,042 to 2,432
* Bedrooms from 3 to 3
* Bathrooms from 2.5 to 3
* Detached homes
* Three different two and three-story floorplans that feature open-concept living, outdoor spaces and bonus rooms
https://www.lennar.com/new-homes/ca...vine/great-park-neighborhoods/almeria-at-rise



4. Covello (Lennar)

index.php

* Square footage from 2,066 to 2,582
* Bedrooms from 3 to 4
* Bathrooms from 3 to 3.5
* Attached and detached homes
* Two and three-story floorplans that feature open-concept living, decks and bonus rooms
* Three different models
https://www.lennar.com/new-homes/ca...vine/great-park-neighborhoods/covello-at-rise



5. Adagio II (Lennar)

index.php


* Square footage from 2,268 to 2,923
* Bedrooms from 3 to 4
* Bathrooms from 2.5 to 3.5
* Detached homes
* Three different models
* This product is just like Cadence which is selling final Adagio 1 homes
https://www.lennar.com/new-homes/ca...ne/great-park-neighborhoods/adagio-ii-at-rise



6. Montair (Lennar)

index.php


* Square footage from 2,526 to 2,907
* Bedrooms from 3 to 4
* Bathrooms from 2.5 to 3
* Detached homes
* Three different three-story floorplans that feature open-concept living, decks and bonus rooms
https://www.lennar.com/new-homes/ca...vine/great-park-neighborhoods/montair-at-rise



7. Apex (Pulte)

index.php


* Single Family Homes
* 40 Apex homes
* Price Estimate: Mid $1.0M's

https://www.pulte.com/homes/california/orange-county/irvine/apex-at-rise-210445
 

Attachments

  • 8EA889BE-01B4-4B63-863C-AAB60535F096.png
    8EA889BE-01B4-4B63-863C-AAB60535F096.png
    1.3 MB · Views: 8,068
  • FE2244D2-D759-4C2F-975E-0FF7071CBFBB.png
    FE2244D2-D759-4C2F-975E-0FF7071CBFBB.png
    278.8 KB · Views: 7,894
  • 68460C35-0558-4A2A-AE21-CDC6660E82A3.png
    68460C35-0558-4A2A-AE21-CDC6660E82A3.png
    1.2 MB · Views: 7,829
Well at least they are going to be building more lower and middle market homes versus higher end homes.  It'll be interesting to see what the pricing will be.
 
Ooof... more 3 story attached townhomes and SFR's. To Da MOON ALICE!!

Not counting roof decks has anyone built a 4 story home yet in the GP? Garage or basement being level 1, then 3 separate levels beyond.

I know parts of GP have extraordinary MR costs. Any idea what Rise will be pricing the MR at?

My .02c
 
I am pretty dizzy at the building pace in Irvine overall.

As far as GP, Cadence is still selling, Novel Park in in early stage. And now Rise Park, wow, that a lot of buildings goin' on.

Suprisingly, the sale people at Novel Park said that every phase that released currently is sold well.
 
It brings up an interesting question (to me at least...) What percentage of these sold and closed homes are "parked money purchases"? Example: The Toll Bros. Parkside development in Lake Forest sold fairly quickly given the terrible location. I'd say over 20 percent of the homes remain vacant a year since the last home was sold in the tract. (No flights, no ad drop/front door tag pickups, the usual signs of a vacant home)  Many properties in the community were FCB purchases, parking funds for an eventual resale down the line.

A 20 percent property vacancy is pretty high for any development. Is this occurring in any of the other new no build communities?

My .02c
 
Great Park Neighborhoods updated their website with more Rise information which included two other developments from Shea Homes (Launch) and Pulte (Ascent):
https://greatparkneighborhoods.com/neighborhoods/rise


index.php


IHS3000 said:
Rise Park update from builders is now online. Models are projected to open in possibly February 2020.

* 518 homes, comprising of seven different developments from Lennar and Pulte
* Pricing Coming Soon
* Community is centered around a garden, Zen-like spaces, pools and play areas
* Homes are down the street from Portola High



1. Bolero (Lennar)

index.php


* Attached townhomes
* Square footage: NA
* Three story floorplans that feature open-concept living, decks and first-floor bedrooms
https://www.lennar.com/new-homes/ca...rvine/great-park-neighborhoods/bolero-at-rise



2. Evergreen (Pulte)

index.php


* Attached three-story townhomes
* Square footage: NA
* 3 bedrooms
* Private patios
https://www.pulte.com/homes/california/orange-county/irvine/evergreen-at-rise-210446



3. Almeria (Lennar)

index.php


* Square footage from 2,042 to 2,432
* Bedrooms from 3 to 3
* Bathrooms from 2.5 to 3
* Detached homes
* Three different two and three-story floorplans that feature open-concept living, outdoor spaces and bonus rooms
https://www.lennar.com/new-homes/ca...vine/great-park-neighborhoods/almeria-at-rise



4. Covello (Lennar)

index.php

* Square footage from 2,066 to 2,582
* Bedrooms from 3 to 4
* Bathrooms from 3 to 3.5
* Attached and detached homes
* Two and three-story floorplans that feature open-concept living, decks and bonus rooms
* Three different models
https://www.lennar.com/new-homes/ca...vine/great-park-neighborhoods/covello-at-rise



5. Adagio II (Lennar)

index.php


* Square footage from 2,268 to 2,923
* Bedrooms from 3 to 4
* Bathrooms from 2.5 to 3.5
* Detached homes
* Three different models
* This product is just like Cadence which is selling final Adagio 1 homes
https://www.lennar.com/new-homes/ca...ne/great-park-neighborhoods/adagio-ii-at-rise



6. Montair (Lennar)

index.php


* Square footage from 2,526 to 2,907
* Bedrooms from 3 to 4
* Bathrooms from 2.5 to 3
* Detached homes
* Three different three-story floorplans that feature open-concept living, decks and bonus rooms
https://www.lennar.com/new-homes/ca...vine/great-park-neighborhoods/montair-at-rise



7. Apex (Pulte)

index.php


* Single Family Homes
* 40 Apex homes
* Price Estimate: Mid $1.0M's

https://www.pulte.com/homes/california/orange-county/irvine/apex-at-rise-210445
 

Attachments

  • 0011DF77-4FE2-4A8B-91DB-71E73773E33D.png
    0011DF77-4FE2-4A8B-91DB-71E73773E33D.png
    1.6 MB · Views: 3,315
Back
Top