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REAL ESTATE INDUSTRY NEWS
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Buyers snap up homes at Stonegate East

56 Irvine Pacific residences have been sold at the new community since opening last month.

By OC METRO staffPublished: December 11, 2010 03:20 PM

If the new-home sales at the Village at Stonegate East in Irvine are any indication of what’s in store for the homebuilding industry in 2011, the forecast should be bright. Since debuting in early November, 56 Irvine Pacific residences have sold within the Capistrano and Los Altos neighborhoods.

If you count sales at Santa Rosa by Van Daele Homes, the tally hits 90 residences.

“Our goal is to continue to meet the strong demand for new homes in Irvine,” said Daniel Young, president of Irvine Co. Community Development and Irvine Pacific, an Irvine Co. affiliate.

In addition, more than 800 new homes have sold this year in the Villages of Irvine. The last time the industry saw such a strong sales pace in this portion of the county: the first quarter of 2005, according to the Irvine Co.

“Homebuyers tell us they are attracted to the Village of Stonegate East because of attainable home prices, historically low interest rates, innovative floor plans that emphasize casual living and entertaining, and the opportunity to enjoy the unmatched lifestyle uniquely found in Irvine,” said Young.

Capistrano and Los Altos offer a mix of homes that range in price from the mid-$400,000s to the mid-$500,000s. The properties feature open entertainment areas, flexible rooms, larger kitchens and functional indoor-outdoor living spaces, among other features. Santa Rosa features homes starting in the low-$300,000s, with private balconies and front porches, as well as functional floor plans.

The Village of Stonegate East is within walking distance of the Woodbury Town Center, and the Irvine Spectrum Center and The Market Place, among other destinations, are located nearby.

"We are very engrained in the Irvine community through our master-planning activities and the unique relationship we have with the consumers who frequent our merchants, the tenants who live in our apartment communities, the employees who work in our office buildings and the residents who live in our homes and enjoy an abundance of open space and parklands," said Young.

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