Irvine getting 137 new townhomes priced under $600,000

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Irvine will get 137 more townhomes in its Business Complex with prices starting under $600,000.

Canadian builder Intracorp?s MDL ? odd shorthand for ?MoDern Living? ? formally opens for sales Saturday, Sept. 7 at 17822 Gillette Ave., formerly a warehouse site not too far from John Wayne Airport. The project will be a gated community with numerous common features ? pool, BBQs and outdoor fireplaces ? plus twists such as a bocce ball court and vegetable garden.

MDL offers house hunters three-story townhomes ranging in size from 1,037 to 2,206 square feet with up to four bedrooms and four bathrooms. And while the project does tout one interesting luxury option for certain models ? rooftop ?sky lounge? decks ? the pitch is also geared toward the suddenly thrifty new-home buyer.

The market for new homes is challenging. Southern California builders saw sales increase 13% year-over-year in July. But that boost meant selling homes with an 8% price cut.

?Assuming the thrifty homebuyer is a longe-term trend, Intracorp intends to design smaller-scale floorplans to compete more effectively on price point and work on in-fill projects in irreplaceable locations so there is less competition and long-term value would be better protected,? said Brad Perozzi, president of Intracorp?s Southern California division. ?We can achieve both of these objectives and meet our return requirements.?

Intracorp, with roots dating to the Intrawest ski resort empire, is bullish on Irvine.

The developer has two townhome projects selling in the city ? LUX, on the same street as MDL, and C2E, by the Diamond Jamboree shopping center. On the same block as MDL and LUX, the company recently bought 2055 Main St. to build a five-story, 178-unit luxury apartment complex.

Irvine?s housing market has hit a rough patch. In 2019?s first six months, sales in the city and Tustin fell 14% vs. 2018?s start.

?We have witnessed home sales have tended to be more spotty with more pronounced hot and cold patches throughout the year,? Perozzi said. ?Intracorp focuses on variables we can control, such as consistently providing a quality home that our clientele responds favorably to.?
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From a prospective home buyer these seemed way overpriced when we considered them. No MR sure, but the tiny sliver of a house is around $520-540/sqft. Three stories. Santa Ana school district. Granted we aren?t in the market for a small condo like that.

Next models up are bigger so there will only be a few available under 600k at less than 1100 sqft with tandem garage.

If I was looking to get a small sub 600k condo I?d be looking at Tustin Ranch instead. We saw a few that were fairly recently built for under 600k at around 1400-1500?. You get better schools and MR was pretty low compared to Irvine.
 
irvinehomeowner said:
Can someone that has access tell me where this is? And what kind of townhomes?
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Irvine will get 137 more townhomes in its Business Complex with prices starting under $600,000.

Canadian builder Intracorp?s MDL ? odd shorthand for ?MoDern Living? ? formally opens for sales Saturday, Sept. 7 at 17822 Gillette Ave., formerly a warehouse site not too far from John Wayne Airport. The project will be a gated community with numerous common features ? pool, BBQs and outdoor fireplaces ? plus twists such as a bocce ball court and vegetable garden.

MDL offers house hunters three-story townhomes ranging in size from 1,037 to 2,206 square feet with up to four bedrooms and four bathrooms. And while the project does tout one interesting luxury option for certain models ? rooftop ?sky lounge? decks ? the pitch is also geared toward the suddenly thrifty new-home buyer.
 
Compressed-Village said:
irvinehomeowner said:
A little late CV but thanks for the help.

I guess I should get an OCRegister.com subscription. :)
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Its not that expensive, plus you get all the relevants info for OC.
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Why pay OCR when you can stay up to date on local news here on TI for free?
 
I really like the "x" models that give you rooftop access effectively making your home "4 stories". These will probably be priced closer to $900-$1M in my opinion.
 
The optional roof top "lounge" and deck is similar to offerings in downtown Fullerton near the train station area some years ago.  Sounds great but the actual view is um...  is that a row of AC's?

Tri-level condos/homes are more difficult to rent or sell.  However as mentioned previously I make a few exceptions.  For example, if the 3rd level is a game room or man cave (typically attic conversion).  Or, if it's mixed use development where the ground floor can be used as business/retail/office, and residential above on 2nd and 3rd floor.  So if you purchased the property you could run your business on 1F or rent it out to someone else for use as an office.
 
That's what they should be doing, live/work units. The problem with that is parking for customers/clients which eats into land cost/profit.
 
irvinehomeowner said:
I guess I should get an OCRegister.com subscription. :)
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I have the Google News algorithm trained to show me lots of OCR stories, particularly local RE stories, and they let me read for free when clicking through from the app.
 
I commute past C2E everyday. It looks like a PITA to get into if you're coming southbound on Von Karman during rush hour b/c there's no light to make a left turn into the complex. I've seen several folks make illegal U-turns just to get in.

It also looks like they're building some more 3 story townhomes across from C2E, I think around the corner of VK and Alton. I saw some front doors facing VK only a few steps away from the sidewalk! That's urban living for you.
 
I went to the grand opening event. I feel like the offering is very "bleh" based on price/value. Add in the fact that it is Santa Ana school district. To exacerbate it, the community around the corner by the same developer is zoned for IUSD.
 
Very disappointed by the prices they were offering. Even when considering MR in newer Irvine areas you were still getting way more value. Much better area, better schools, etc. The smallest unit already had a waiting list and we were confused how? It?s a narrow apartment with laundry in your tandem garage. Are investors planning to rent those out?

The rooftop decks were very meh, they have all the water heaters on the roofs so that?s your view. That and planes coming by every few minutes.

What is the pollution like near JWA? I?ve never looked into it honestly.

Only thing we liked were the kitchen layouts in the larger units. Some had good storage closets/cabinets we liked.

It feels like an apartment. You overlook the pool. Everyone can see into your home. For the prices it seemed strange.
 
jamesKirk said:
Very disappointed by the prices they were offering. Even when considering MR in newer Irvine areas you were still getting way more value. Much better area, better schools, etc. The smallest unit already had a waiting list and we were confused how? It?s a narrow apartment with laundry in your tandem garage. Are investors planning to rent those out?

The rooftop decks were very meh, they have all the water heaters on the roofs so that?s your view. That and planes coming by every few minutes.

What is the pollution like near JWA? I?ve never looked into it honestly.

Only thing we liked were the kitchen layouts in the larger units. Some had good storage closets/cabinets we liked.

It feels like an apartment. You overlook the pool. Everyone can see into your home. For the prices it seemed strange.
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Good info. You saved me a trip.
 
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