Laguna Crossing & Orchard Hills Postponed to 2009

<p>Trooper,</p>

<em>What about us white and brown people ? Any products planned for us ?</em>



You are too funny! Of course, the answer is there is.



You either start somewhere . Believe it or not, I see the later quite often.
 
I grew up in the SGV, and a lot of my friend's parents have tons of money. My friends, not nearly as rich as their parents, but as noted, a generous down payment and future inheritance and they are set. College education, no worries, the grandparents can dump in quite a bit into their 529 plans. I'm the complete opposite but I don't and have never expected my parents to help me out. Likewise I hope not everyone characterizes ABC or 2nd gen asian families as being totally rich, for every rich there are at least 4 or 5 that have come here with very little to make a better life for their children. Sometimes I think I need to ground myself with my parent's lifestyle. They made it by working hard, saving money and making sacrifices to provide for their kids. They knew and understood priorities and sometimes I think mine are out of whack.
 
"<em>I'm the complete opposite but I don't and have never expected my parents to help me out. L<strong>ikewise I hope not everyone characterizes ABC or 2nd gen asian families as being totally rich, for every rich there are at least 4 or 5 that have come here with very little to make a better life for their children.</strong> Sometimes I think I need to ground myself with my parent's lifestyle. They made it by working hard, saving money and making sacrifices to provide for their kids. They knew and understood priorities and sometimes I think mine are out of whack.</em>" - Bubblegum




 
I was driving past the area that will be Laguna crossing last night. It looks like they may have switched up the signs. Instead of the IC signs mentioning Laguna Crossing, they now are back to the generic "Future Residential Community" ones.
 
that sucks, I was really hoping to buy in laguna crossing, the location is really good for me...maybe they are just holding this off until (and if) the market rebounds)...
 
I went to get a cup of joe today at Peets and was happy to discover that the barricades have come down at Orchard Hills. So I took a one-hour walk before getting my coffee. I walked the new Culver extension into OH, detouring past the barricades at the new, not-quite-finished Settler's Park. (I didn't actually trespass the barricades; I simply walked across the grass field and discovered open access to the road). Then I returned to Culver, which becomes Orchard Hills (Rd? Dr?). It started to drizzle on me toward the end, as I returned to the OH shopping plaza via Portola, past Northwood HS.





I hadn't realized how much progress they were making on the roads and grading. I am excited - maybe this development really will be moving forward after all!
 
Register asked Irvine Co. spokesman John Christensen about the postponement of Laguna Crossing to 2010. Here are excerpts from his e-mailed response:



?Clearly home sales have slowed, but the fact remains that homes are selling. We are focusing on the villages of Woodbury, Portola Springs and Crystal Cove.? ?For our other villages, like Laguna Crossing, that are in various stages of the planning process, we are working with our builders to make sure that virtually everything is done with regards to completing the permitting and planning processes, so that we can move swiftly when the market begins to uptick.

?Interest in homes in our villages remains constant, and since we have the advantage of being a long-term landowner and a diverse, private company, we can take a different approach to our land and our villages - including the flexibility of being able to adjust our approach as the housing market continues to settle.?



I am glad irvine company is making those statements publicly. I just hope they can stick with it.
 
Like we have seen. TIC does have some control of the local market. Instead of building out all it's pending new commmunities. Thus, increases current inventory with new homes. They postponed all their projects.
 
if the irvine company"s villages can weather this downturn relatively better than the non irvine company villages, it will go a long way to further establish their "brand".
 
I have no clue how they can afford to put everything on hold. But apparently, they are doing just that. Only time will tell.
 
<p>Well reason, I bet you can make a case for the bank to "run and hold" vs losing your butt by building.</p>

<p>At least that's what I'd expect. I'd rather pay for the land than pay for the land, construction, advertising, people, fees, fines, etc. etc. etc. etc.</p>

<p>Make no mistake, its not cheap by any sense of the imagination. </p>

<p>good luck</p>

<p>-bix</p>
 
I just hope they aren't planning to wait for real 2006 home prices to come back. Donald Bren and most of the other private investors who own TIC will be dead and buried long before that happens.
 
<p><em>"We are working with our builders to make sure that virtually everything is done with regards to completing the permitting and planning processes, so that we can move swiftly when the market begins to uptick."</em></p>

<p>THAT is pent-up supply. It will almost guarantee that even when selling shows signs of life, prices won't, because they aren't the only ones planning this.</p>

<p>SCHB


</p>
 
SCHB, who else has land to develop in Irvine other than Lennar? Lennar is no shape to spend anymore on great park right now.
 
<p>Other builders that have throttled back or fully postponed at Villages of Columbus.</p>

<p>If Lennar sticks around, they are also waiting for the turnaround to pick up the pace on the Great Park.</p>

<p>It is much smaller, but Woodbury East will get turned back on...supply is lurking.</p>
 
I heard the same thing on another thread...Woodbury East will restart sales this summer, hoping to catch spring/summer bounce. Btw, anyone here anything new about Cal Pac's Andalucia in Woodbury? Any idea when they will start sales? Their models have been sitting completed for several months now and the sign near the corner of Hallmark & Regal is back up.
 
See the Calculated Risk story on a landowner in the Inland Empire selling at 15 cents on the dollar, also excerpted by Graphrix elsewhere in light of some of the earlier comments on this thread.
 
IACR - I suspect they are waiting for more of Campanile to sell before they get going on Andalucia. Back when the drawings were on the website, Andalucia appeared to be the same plans as Campanile. While feeding into the IUSD, Andalucia offers higher HOAs and Mello Roos . . . er, "Community Facilities District" charges.
 
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