One of the strengths for which Orange County homebuilder William Lyon Homes has established a special reputation is the purchase of sites formerly planned for or once used for schools and on these sites developing new residential communities. A currently proposed high-image project is in the fully developed Village of Woodbridge in Irvine.
The rare 6.2-acre site was formerly used by Alderwood Basics Elementary School, which the Irvine Unified School District closed in 2005. Lyon purchased the site for $12 million in 2008, but re-zoning of the land parcel from educational to residential use has been moving slowly since then, with concern by local residents and the Woodbridge Village Association about traffic and parking issues.
Now, finally, the Irvine City Council has approved the re-zoning and Lyon has been cleared to move ahead with planning and development. On the site at the intersection of East Yale Loop with Alderwood, Lyon proposes to build a community of 48 homes, but no construction date has yet been announced.
