Author Topic: Azalea: New Low Cost or Investment Homes for Cypress Village  (Read 6082 times)

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Offline irviniteeee

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Re: Azalea: New Low Cost or Investment Homes for Cypress Village
« Reply #15 on: November 17, 2020, 11:14:24 PM »
That side of CVE is really going to need an entrance/exit on to Great Park Blvd or Ridge Valley.

There really should be a pedestrian / bicycle bridge from CV to CVE. This way it will link up access to the Great Park and also kids from CVE can safely ride their bikes to CV Elementary and also Jeffrey Trail Middle.

They'll need 2 bridges...one crossing Sand Canyon and the other one crossing the 133 Toll Road but not sure if either one will happen anytime soon.

They've been talking about building a pedestrian bridge for more than a decade and it still hasn't happened. The original plan was for a bridge from Woodbury East to Great Park. The city was also supposed to build another bridge crossing Sand Canyon and linking it to JOST. They mention it in this 2007 document for the Venta Spur Trail extension to JOST (another bridge that never happened!):

https://legacy.cityofirvine.org/civica/inc/displayblobpdf2.asp?BlobID=9787

It would be really great if they followed through with these plans at some point. I don't think they anticipated just how much of a difference the bridges would make in the future. Sand Canyon is a death sentence to cross and people fly down Ridge Valley by CVE.

Another place that really needs some sort of pedestrian friendly revision is around Bosque and the roundabout in the Great Park. It seems really unsafe for pedestrians. The whole Great Park has horrible crossing points from each enclave. For me, the design makes each neighborhood in GPN seem so disconnected from the actual park.

Offline moc

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Re: Azalea: New Low Cost or Investment Homes for Cypress Village
« Reply #16 on: November 18, 2020, 09:20:29 AM »
The Venta Spur bridge over 133 is still listed in the City's capital improvement program. The document linked online from April 2020 says the project is in final design with an estimated completed construction date of June 2022.

We'll see when it actually happens, but at least there has been something happening.

https://cityofirvine.maps.arcgis.com/apps/webappviewer/index.html?id=b37378d166fc4d7a873dac36cf81ede7

https://gis.cityofirvine.org/cip/pdf/CIPViewer/321701%20-%20Venta%20Spur%20SR-133%20Bike%20Pedstrian%20Bridge.pdf

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Offline momopi

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Re: Azalea: New Low Cost or Investment Homes for Cypress Village
« Reply #17 on: November 19, 2020, 01:45:42 PM »
Slightly off topic... Shea Homes is building 3 story Condo's and 3 story SFR's at a former grocery store site in Mission Viejo. On their website they are calling a Roof Deck a "4th Story". Is that the case - a roof deck is considered a 4th story or is that simply marketing? What does a 4th story do to your insurance (for anyone who has a roof deck)?

As noted earlier, all those stairs in a 3 story home are great for anyone younger than 25. Over that age? Fugggedaboutit. Add an infant or multiple kids into the mix and these homes turn out to be terrible investments in the long run (IMHO). My first Condo was essentially on the 3rd floor. Schleping groceries and a 2 year old up all those stairs is a memory I'd rather forget.

My .02c

Some years ago they were selling 3 story rowhouses in Downtown Fullerton near the train station.  These are basically 3 story condos with option for a loft on top (4th level?).  I went to see the model home and the loft level just looked wonky, with view of um, HPAC systems and ventilation systems.

For the past few decades builders have been busy building larger and larger homes.  The affordable housing market was neglected and, consequently has very high demand from buyers with lower budgets.  Look at this 2 bed condo in RSM for example:

https://www.redfin.com/CA/Rancho-Santa-Margarita/47-Mira-Mesa-92688/home/5232352

This is 2F condo with neighbor below you, $340 HOA and sold for $530K which exceeds previous housing bubble price of $420K.  With this kind of price pressure it's not surprising that builders are building upwards.

Offline jonkjiao

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Re: Azalea: New Low Cost or Investment Homes for Cypress Village
« Reply #18 on: March 24, 2021, 05:03:38 PM »
Any recent news on this community? Was it delayed? :-\

Offline Cares

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Re: Azalea: New Low Cost or Investment Homes for Cypress Village
« Reply #19 on: March 24, 2021, 07:00:32 PM »
The model home is currently being built as we speak. Roof tiles are in place ready for installation. Exterior stucco not up yet. I would guess maybe 2-3 weeks and the model home will be done.

Offline crownedking

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Re: Azalea: New Low Cost or Investment Homes for Cypress Village
« Reply #20 on: March 25, 2021, 12:59:49 PM »
any word on pricing? Im hoping this can be my first home

Offline Cares

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Re: Azalea: New Low Cost or Investment Homes for Cypress Village
« Reply #21 on: March 25, 2021, 01:46:28 PM »
No word on pricing yet. My best guess is starting between $675-700k for the smaller 1000 sqft units. Low inventory overall and cost of lumber is up significantly. They will pass the cost onto the buyers.

Offline irviniteeee

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Re: Azalea: New Low Cost or Investment Homes for Cypress Village
« Reply #22 on: March 25, 2021, 03:15:47 PM »
No word on pricing yet. My best guess is starting between $675-700k for the smaller 1000 sqft units. Low inventory overall and cost of lumber is up significantly. They will pass the cost onto the buyers.

I honestly see these starting in the 5's somewhere. Usually California Pacific prices their projects at an "affordable" rate (in the first phases at least). I wouldn't be shocked by 675-700, but I feel like they will be less.

Offline USCTrojanCPA

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Re: Azalea: New Low Cost or Investment Homes for Cypress Village
« Reply #23 on: March 25, 2021, 04:27:25 PM »
No word on pricing yet. My best guess is starting between $675-700k for the smaller 1000 sqft units. Low inventory overall and cost of lumber is up significantly. They will pass the cost onto the buyers.

I honestly see these starting in the 5's somewhere. Usually California Pacific prices their projects at an "affordable" rate (in the first phases at least). I wouldn't be shocked by 675-700, but I feel like they will be less.

No way, the single level 2 bedroom condo pricing will be in mid $600s to start given where comps are at for similar units in Stonegate, Woodbury and Cypress Village.
Martin Mania, CPA
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Offline irviniteeee

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Re: Azalea: New Low Cost or Investment Homes for Cypress Village
« Reply #24 on: March 25, 2021, 05:27:40 PM »
No word on pricing yet. My best guess is starting between $675-700k for the smaller 1000 sqft units. Low inventory overall and cost of lumber is up significantly. They will pass the cost onto the buyers.

I honestly see these starting in the 5's somewhere. Usually California Pacific prices their projects at an "affordable" rate (in the first phases at least). I wouldn't be shocked by 675-700, but I feel like they will be less.

No way, the single level 2 bedroom condo pricing will be in mid $600s to start given where comps are at for similar units in Stonegate, Woodbury and Cypress Village.

That's true. I think I would prefer one of the single level floorplans in the other villages. The supposed dining room in the plan 1 and 2 looks completely unusable.

Offline Cares

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Re: Azalea: New Low Cost or Investment Homes for Cypress Village
« Reply #25 on: March 25, 2021, 05:48:35 PM »
No word on pricing yet. My best guess is starting between $675-700k for the smaller 1000 sqft units. Low inventory overall and cost of lumber is up significantly. They will pass the cost onto the buyers.

I honestly see these starting in the 5's somewhere. Usually California Pacific prices their projects at an "affordable" rate (in the first phases at least). I wouldn't be shocked by 675-700, but I feel like they will be less.

No way, the single level 2 bedroom condo pricing will be in mid $600s to start given where comps are at for similar units in Stonegate, Woodbury and Cypress Village.

Yep if resale comps are selling mid $600s there's no way that a builder will price at or below the comps on new construction. It'll be above and keep in mind lumber is over double a year ago.

Offline USCTrojanCPA

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Re: Azalea: New Low Cost or Investment Homes for Cypress Village
« Reply #26 on: March 25, 2021, 05:54:47 PM »
No word on pricing yet. My best guess is starting between $675-700k for the smaller 1000 sqft units. Low inventory overall and cost of lumber is up significantly. They will pass the cost onto the buyers.

I honestly see these starting in the 5's somewhere. Usually California Pacific prices their projects at an "affordable" rate (in the first phases at least). I wouldn't be shocked by 675-700, but I feel like they will be less.

No way, the single level 2 bedroom condo pricing will be in mid $600s to start given where comps are at for similar units in Stonegate, Woodbury and Cypress Village.

Yep if resale comps are selling mid $600s there's no way that a builder will price at or below the comps on new construction. It'll be above and keep in mind lumber is over double a year ago.

They may price a bit lower right off the bat to get momentum and then keep bumping prices up, we shall see.
Martin Mania, CPA
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Offline Dr. CA Real Estate

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Re: Azalea: New Low Cost or Investment Homes for Cypress Village
« Reply #27 on: March 25, 2021, 06:00:25 PM »
If you're interested in buying here dm me Ill email you the price sheet
Kris Mendoza
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Offline GoatGeneral

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Re: Azalea: New Low Cost or Investment Homes for Cypress Village
« Reply #28 on: March 25, 2021, 07:27:05 PM »
Can you copy/paste here or is it not public info?

Offline USCTrojanCPA

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Re: Azalea: New Low Cost or Investment Homes for Cypress Village
« Reply #29 on: March 30, 2021, 05:39:09 PM »
One of my client's got an email from CalPac that the pre-quals for Azalea begins on April 15th.  They also found out the CalPac will not be paying a broker co-op to agents. 
Martin Mania, CPA
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