Although January and February are typically known as the “slower” months in the real estate world, homebuilding activity in Orange County is off to a roaring start in 2012! See what’s making the news here locally:
After seeing a huge boom in urban condominium development in the early to mid-2000’s, followed by a few years of hibernation, several suburban multi-family condominium projects are finally emerging in the marketplace, and several more are planned for actual development. The combination of affordability and ideal infill locations is putting condominiums back on the radar screen for possible new home buyers.
Nearly every local builder has a current project in the works, either attached or detached product types.
Carlsbad is a hotspot for new home projects. Shea Homes, Taylor Morrison, CityVentures and Brookfield Homes all have new communities breaking ground in the coming months, and D.R. Horton (53 Melrose), KB Home (Avellino) and Brookfield (Sago at the Foothills) are building out existing projects in this city.
San Marcos is also seeing an uptick of activity. Colrich is starting to market their new project (Solaire) in the Old Creek master plan, and Lennar is building out Belmont at the top of San Elijo Hills.
Farther south, Davidson Communities is breaking ground on their new detached condominium site, (Arista) at The Crosby.
Shea Homes is also making news in Mission Valley with its new communities in the Civita master plan.
The communities of Otay Ranch and Olympic Pointe in Chula Vista will supply the San Diego South Bay with new product in the near term.
Future projects in North County, Mid County and South Bay currently in the planning stages ensure that condominiums will continue to supply lower priced homes throughout the region.