Irvinecommuter
New member
OC_medicine said:
There is no way a Smart and Finals is going in there...I could be wrong but I just don't think TIC will put a S&F in what they view is a "upscale" center.
Orchard Hills - Strada by Irvine Pacific
- Thread starter ps99472
- Start date
There is no way a Smart and Finals is going in there...I could be wrong but I just don't think TIC will put a S&F in what they view is a "upscale" center.
Perspective
Well-known member
The current release is 25 (end of cul-de-sac on Iron Horse). Nearly all of the lots in phases 22-26 appear to have the ~10' setbacks similar to the models.
Strada's pricing strategy is in direct contrast to most of Beacon Park's developments. You'd think they could've slowed production many months ago and raised prices significantly due to how well they've been selling. Base pricing is up just 5%+ from mid-2015. Maybe they remember early 2015 when the price sheets had five of each plan available for sale.
Strada's pricing strategy is in direct contrast to most of Beacon Park's developments. You'd think they could've slowed production many months ago and raised prices significantly due to how well they've been selling. Base pricing is up just 5%+ from mid-2015. Maybe they remember early 2015 when the price sheets had five of each plan available for sale.
Attachments
That's further ahead that I'd have thought. I'd be interested to know how the sales are going on the recent releases. My thoughts are that even though the lot sizes are small on current releases, Strada has generated enough sales and enough buzz that it's still highly attractive. This is a slow sales period, but it seems IP is on target to be completely built out by the summer. 250 homes in 2 years.
Jonah said:
Agreed, surprised they're already in phase 25, aren't there only 30 phases in total? The first two cul de sacs on both sides as you enter Strada have been framed/started to be framed, they're moving fast. I wonder what the base prices are for the new releases.
Still question why Quarter Horse has so many more cars compared to all the other occupied streets. It can't still be attributed to landscaping being done because it looks like homes on the other streets are doing landscaping as well.
Perspective
Well-known member
A S said:
Current base price for a plan 3 with no elevation upgrade at the end of a cul-de-sac and a ~10' setback is ~$1.249M.
Perspective
Well-known member
i1 said:
Yes, if the lot isn't sold within the first couple of months, the builder selects whether a CA room or conservatory will be added. One more month unsold and more upgrade decisions are made by the builder. The asterisk means many upgrades might be included in the price, as opposed to a lot in the current phase where the price includes no upgrades.
There's only 3 that I can see will have been standing inventory for a while - 1 in Coppermine, 1 in Quarter Horse and 1 in earlier developed side of Bountiful. From my recollection, the others were in a release about 2 months ago. One house remained unsold in our street for about 2 months after our COE, but it sold eventually. IP doesn't offer concessions, they play the long waiting game. There's always a buyer.
Perspective
Well-known member
i1 said:
There are roughly eight lots in each release. In the last five months, Strada has gone from phase 14 through phase 25. There's no possible way to describe this other than a huge sales success.
timandjess
New member
So phase 25 are all spoken for?
I'm surprised lots 212, 213, 214 and 203 are sitting. IMO they are some of the best locations. You may argue that 212, 213, and 203 has small lots, but not 214.
I'm surprised lots 212, 213, 214 and 203 are sitting. IMO they are some of the best locations. You may argue that 212, 213, and 203 has small lots, but not 214.
Perspective
Well-known member
TJinOH said:
They're likely working through the pre-qual list for phase 25.
timandjess
New member
I believe IP priced Strada below market value initially, or rather everyone else over value, leading to the current situation.
The reasoning behind this belief is that when launched, there was a large gap between Strada 3 ($1.08) and Capella 1 ($1.28ish). While there was almost no gap between Terraza 2X and Strada 1. Irvine housing has always gapped their communities pretty evenly from my recollection.
Furthermore, we received a call from Strada leasing office a couple of days prior to initial launch asking us what's the max price range we would consider, and subsequently disclosing that plan 1 is slated to start at $1.10M. And yet as we know phase 1 opened at $100k below that.
So I believe IP's original plan was to price the Strada right below Capella (1- $1.1M, 2- $1.15M, 3- $1.2). But while calling down their wait list prior to launch, they realized most buyers that are not waiting for the IUSD will not pay that high, so last minute they lowered Strada pricing. Along the way they f*cked over Terraza and Capella.
But because of this movement, they became slightly under value (or one could also argue AT market value depending on how much premium you believe this hill should bring)while others were slightly over value .
This created the momentum, and it ramped up when Strada entered into IUSD. All the pent up anticipation of the FCB wanting Irvine school districts just exploded.
The reasoning behind this belief is that when launched, there was a large gap between Strada 3 ($1.08) and Capella 1 ($1.28ish). While there was almost no gap between Terraza 2X and Strada 1. Irvine housing has always gapped their communities pretty evenly from my recollection.
Furthermore, we received a call from Strada leasing office a couple of days prior to initial launch asking us what's the max price range we would consider, and subsequently disclosing that plan 1 is slated to start at $1.10M. And yet as we know phase 1 opened at $100k below that.
So I believe IP's original plan was to price the Strada right below Capella (1- $1.1M, 2- $1.15M, 3- $1.2). But while calling down their wait list prior to launch, they realized most buyers that are not waiting for the IUSD will not pay that high, so last minute they lowered Strada pricing. Along the way they f*cked over Terraza and Capella.
But because of this movement, they became slightly under value (or one could also argue AT market value depending on how much premium you believe this hill should bring)while others were slightly over value .
This created the momentum, and it ramped up when Strada entered into IUSD. All the pent up anticipation of the FCB wanting Irvine school districts just exploded.
Perspective
Well-known member
Here's a pic from yesterday looking down on Thorougbred (Phase 23). Foundations are framed ready for concrete within the next week or so. At this pace, all Strada lots could be in escrow by the end of Q1 2016. Maybe Beacon Park's Oakmont and Juniper will start selling better once Strada sales are complete.
Attachments
Orchard Hills lots are considered premium. Eastwood seems to be on par with Stonegate depending how you view it. Not sure there are going to be anymore developments like Orchard Hills, besides the other phases on the gated side behind the hills. Not a fan of the Strada designs JMO.