REAL ESTATE
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Trumark acquires 11 acres in Lake Forest
Firm plans to develop about 70 homes on the property.
By Kristen SchottPublished: August 13, 2009 09:40 AM
The housing downturn seems to be no match for one company: Newly launched homebuilder Trumark Homes has purchased 11 acres of land in Lake Forest for $4.8 million.
The company, which has Southern California headquarters in Irvine, says it is "confident that a down economy is the right time to buy land for building new homes." Trumark plans to develop between 68 and 72 single-family detached traditional homes on the property, which is located on the corner of Regency Lane and Osterman Road. Construction is expected to begin late next year.
“South Orange County is a prime market for residential land investment due to its close proximity to various job sites and offers buyers a chance to purchase new homes in an area lacking new product," says Jason Kliewer, president of Trumark Cos.
The move is a strong one for the company, according to Michael Maples, principal of Trumark Homes and co-founder of Trumark Cos. He believes the homes built on the land will offer more value to buyers.
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The company, which has Southern California headquarters in Irvine, says it is "confident that a down economy is the right time to buy land for building new homes." Trumark plans to develop between 68 and 72 single-family detached traditional homes on the property, which is located on the corner of Regency Lane and Osterman Road. Construction is expected to begin late next year. “South Orange County is a prime market for residential land investment due to its close proximity to various job sites and offers buyers a chance to purchase new homes in an area lacking new product," says Jason Kliewer, president of Trumark Cos. The move is a strong one for the company, according to Michael Maples, principal of Trumark Homes and co-founder of Trumark Cos. He believes the homes built on the land will offer more value to buyers. NEXT PAGE >> Related headlines 'OC METRO Minute,' Aug. 14: William Lyon Homes sees Q2 profit Leading brokerage firms auction O.C. properties online First American CoreLogic launches iPhone application CB Richard Ellis directs speedy sale of bank-owned property in Irvine |
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