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BUILDING INDUSTRY NEWS
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Fieldstone Group acquires four properties

The Irvine-based developer plans to build single-family homes on the sites, two of which are in O.C.

BY LAUREN GIUDICEPublished: January 11, 2011 11:37 AM

The Irvine-based Fieldstone Group of Cos. plans to build several single-family home developments on four Southern California properties that it has acquired, including two in Orange County.

One of the properties is in Dana Point. The company hopes to build a community of six detached homes – some with ocean views – featuring lot sizes that range from 8,800 to 13,600 square feet. Fieldstone aims to have the homes on the market early this year.

A second Orange County project in Rancho Santa Margarita consists of eight homes with mountain or valley views that are expected to be available for sale next January.

The other two development sites are in the Northern San Diego County towns of Encinitas, where plans call for the development of nine environmentally friendly beach cottages, and San Marcos, where building has already begun on homes featuring three to six bedrooms.

“The Fieldstone name, its experienced management team and its reputation in the industry and among homebuyers is a solid foundation on which to rebuild as we come out of this recession,” said William H. McFarland, former vice president and director of the Irvine Co. and new executive officer of Fieldstone “We’re in a strong position to compete with the new homebuilders who have cropped up in the past few years because we have something they don’t – a proven track record.”

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