I was watching a replay of the March 13th Orange County Great Park board meeting recently, and it provided some information on when Lennar had planned for the Great Park homes to be available. It also provided some information on what the pricing for these homes would be. However, on Tuesday, Lennar will give an updated version of these plans at the Irvine City Council. Expect changes. Due to market conditions, this is no surprise.
In the meantime, the following numbers and dates for the Lennar’s Great Park development of residential units as stated at the March 13th Great Park board meeting are provided below. Again, these numbers and dates will change, but comparing the old and the new info from Lennar will be interesting and useful.
- Land sales that would allow developers to start building would begin in 2009.
- First vertical development would be in place/sold by December 2010.
- All development would be complete by 2015.
Type of Units, Number of Units, Pricing:
- Single-family detached—1100 units @ $1,700,000 each
- Condos (LLD)—60 units @ $650,000 each
- Senior housing—600 units @ $400,000 each
- Residential golf course—635 units @ $750,000 each
- Multi-unit (transit-oriented development—TOD)—686 units @ $690,000
- Low to moderate senior housing—200 units, price not specified
- Low to moderate multi-family housing—344 units, price not specified
You can view the City Council meetings on ICTV on Tuesdays at 4 pm and Thursdays at 7 pm. Or you can view on demand at the City’s website. The Great Park board meetings are also available on ICTV and on demand at the City’s website. I encourage everyone to watch. It can be informative in many ways: not only can you get information (and have input) on the development plans for the Great Park, but you can judge for yourself who is playing politics with the issues and who is not.
If you can’t watch for yourself, I will provide an update on what Lennar had to report concerning the Great Park residential development in an upcoming post. Lennar also has some non-residential development plans for the Great Park, so I might also write about that. I will probably call it “The Orange County Great Park Update: Housing Availability, Part II.” Catchy title, isn’t it?
PHOTO COURTESY THE ORANGE COUNTY GREAT PARK CORPORATION
Update: For more recent information on Lennar’s plans for the Orange County Great Park, see “Lennar Begins Great Park Development with Commericial/Educational; Housing is Delayed.”