A New Village in Irvine
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The Irvine Company’s newest village in the northern Irvine area, called Stonegate, has opened and sales of new homes are reportedly doing extremely well. The homebuilder is the Irvine Company’s own Irvine Pacific.
Irvine Pacific, which once did a portion of the new homes on the Irvine Ranch, was shuttered some years ago. The homebuilding division was re-started recently as its parent Irvine Company wanted to explore the lagging residential sales market but outside homebuilders, which typically purchase land from the Company on which to develop residential neighborhoods, are still holding back.
Stonegate, which will eventually have 486 residential units, has four neighborhoods: Santa Clara, with 138 attached flats from the mid-$300,000s; San Mateo, with 134 detached homes from the mid-$500,000s; San Marcos, with 99 detached homes from the low $600,000s; and Maricopa, with 115 detached homes from the high $700,000s.
Who is buying? “Young professionals who are particular about design and details,” according to Irvine Pacific, which has opened a 6,700-square-foot design center in neighboring Woodbury Town Center, where homebuyers can select interior items.
