IRVINE, CA—Builder California Pacific Homes reports that 98 Caserta-branded homes have sold in 12 months at the Villages of Irvine community of Cypress Village. The demand has become so great for the newly developed collection of townhomes and flats that extended phases are now selling as well.
“The sales we're seeing at Caserta are extraordinary,” says Leslie Stillman, VP, sales and marketing and design center for California Pacific Homes. “We attribute the collection's success to the appealing design, comfortable interior spaces and a desirable location that offers numerous lifestyle advantages in Irvine.”
Caserta homes feature modern amenities, including Bosch kitchen appliances and abundant storage. Interiors include two to three bedrooms plus a loft, two to three-and-a-half baths and a two-car attached garage in approximately 1,165 square feet to 1,810 square feet. The collection is priced from the high $400,000s.
Sales for Caserta fit with the general trend of overall health for the multifamily community nationwide, but especially in Orange County. As GlobeSt.com reported last week, Tim Paone, a partner with Cox Castle & Nicholson, told us, “Cities are encouraging greater density, such as tearing down an old industrial building and putting up multifamily projects.” And Drew Emmel, land-use partner with Allen Matkins, told us, “An interesting dynamic is the conversion from industrial to multifamily, which will continue to accelerate and put pressure on industrial developers from multifamily developers who want their land.” The competition for land seems to be accelerating as multifamily developers find ways to get these much-desired projects built.
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Carrie Rossenfeld
Carrie Rossenfeld is a reporter for the San Diego and Orange County markets on GlobeSt.com and a contributor to Real Estate Forum. She was a trade-magazine and newsletter editor in New York City before moving to Southern California to become a freelance writer and editor for magazines, books and websites. Rossenfeld has written extensively on topics including commercial real estate, running a medical practice, intellectual-property licensing and giftware. She has edited books about profiting from real estate and has ghostwritten a book about starting a home-based business.
