Prospect Village in Tustin

D

diulei

New member
First of all, glad someone pointed me in this sites direction after not having the IHB boards for a while.

Anyway, has anyone heard any news about Prospect Village in Tustin? The original WTF pricing had them from 800K - 1.2M. Last I heard they dropped to 600K - 800K back in mid 2009.

While I realize the live-work type of homes (with no yard, I might add) doesn't appeal to most people, these do to me because at my age, I don't want a yard, the smaller models are a good size for me (1800 sq. ft.), no mella roos, reasonable HOA, and it's about as walkable as you can get in Orange County without having drunk frat boys everywhere. The "starting in the low 600s" still puts it a little bit out of my range, but I haven't heard of anything from them lately.

http://www.pelican-properties.net/prospectvillage.html
 
Great post... I am actually interested in these.

I like that area of Tustin quite a bit and although you would have to carefully choose what type of business/retail can be run from that place... it's a much better location than the Santa Ana lofts near the train station.

Have you been to the models?
 
[quote author="diulei"]First of all, glad someone pointed me in this sites direction after not having the IHB boards for a while.

Anyway, has anyone heard any news about Prospect Village in Tustin? The original WTF pricing had them from 800K - 1.2M. Last I heard they dropped to 600K - 800K back in mid 2009.

While I realize the live-work type of homes (with no yard, I might add) doesn't appeal to most people, these do to me because at my age, I don't want a yard, the smaller models are a good size for me (1800 sq. ft.), no mella roos, reasonable HOA, and it's about as walkable as you can get in Orange County without having drunk frat boys everywhere. The "starting in the low 600s" still puts it a little bit out of my range, but I haven't heard of anything from them lately.

http://www.pelican-properties.net/prospectvillage.html[/quote]

prospectvillage.JPG


Offering broker co-op of 3% but broker must accompany buyer on first visit.

And they're not quite "drunk frat-boys" around the corner at the Swinging Door, but keep that in mind if you are looking at the area and it's a concern for you.

-IR2
 
[quote author="IrvineRealtor"]

And they're not quite "drunk frat-boys" around the corner at the Swinging Door, but keep that in mind if you are looking at the area and it's a concern for you.

-IR2 [/quote]

I'd almost be more concerned with "drunk old guys" spilling out of the Swinging Door. Or so I've heard.
 
So uh... Deuce... you have time to swing by this place one of these days at lunch?

I'm really going just to looky-loo but you never know if I hit the lotto and decide to splurge... a rental/business live/work place might be somewhere I throw some money away on.
 
[quote author="irvinehomeowner"]So uh... Deuce... you have time to swing by this place one of these days at lunch?

I'm really going just to looky-loo but you never know if I hit the lotto and decide to splurge... a rental/business live/work place might be somewhere I throw some money away on.[/quote]

Mmmm, lunch. Honda Ya is right around the corner, too.
 
If that's where you wanna go... I owe you anyways... let me know when you have a hole in your schedule (M/W/F are usually best for me... but not this Wed).
 
[quote author="IrvineRealtor"]
Offering broker co-op of 3% but broker must accompany buyer on first visit.

And they're not quite "drunk frat-boys" around the corner at the Swinging Door, but keep that in mind if you are looking at the area and it's a concern for you.

-IR2 [/quote]

Thanks for the post - very informative - actually with some of those sold prices it gives me a little more confidence. ;D

I'll also keep in mind the folks from Swinging Door (I'm guessing Godfather's / Tustin Inn patrons may spill around too). I've been there before and even though it's not my cup of tea, it most definitely is not as bad as the drunken Newport crowd.
 
So mission failed.

Sales office wasn't open and one of the owners said they had already sold all the homes in the project.

Walking around the complex, I think it's pretty good. They used the same styling as Old Town Tustin. If anyone is familiar with the Utt Juice Factory, that's what they modeled it after as it is right behind where that old building was.

It has a gated private internal motorcourt where the owners can park in their rear garages and then one side has street parking and a small public lot across the street. Each unit seems detached sharing only an entrance into the residence. The entries for the business are facing the sidewalk.

At $600k, if you had a type of business that could do well in that area, it would be an interesting purchase. The only existing businesses I saw was a photo studio, CPA, French boutique and some others that were hard to identify. It looked like some of the homes were not even intending to use the bottom floor as a business and probably more as an entertaining area or additional storage.

Not sure if it's good place for a family with young kids but if they opened up something like that in Irvine... I would sheeple up on the interest list.
 
Thanks for the update. I guess I don't need to worry about heading down there any time soon. Oh well.
 
[quote author="irvinehomeowner"]If anyone is familiar with the Utt Juice Factory, that's what they modeled it after as it is right behind where that old building was[/quote]Does not look much if anything like the Utt building that was there
 
[quote author="irvinehomeowner"]The only existing businesses I saw was a photo studio, CPA, French boutique and some others that were hard to identify[/quote]And all of them seem to never be open for business. Old Town Tustin has a couple of excellent restaurants, but it is very, very dead, weekends included.
 
[quote author="oneinamillion"]
[quote author="irvinehomeowner"]The only existing businesses I saw was a photo studio, CPA, French boutique and some others that were hard to identify[/quote]And all of them seem to never be open for business. Old Town Tustin has a couple of excellent restaurants, but it is very, very dead, weekends included.[/quote]

Tustin is in the process of remodelling the area.

http://www.tustinca.org/departments/redev/documents/CenterCity_CommunityWorkshop_Presentation.pdf
 
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