Thread: 83 condos sold at Irvine’s urban-themed project

83 condos sold at Irvine’s urban-themed project

March 31st, 2011, 12:29 am
by Jeff Collins

Lennar’s 42-acre, urban-themed Central Park West condo project has sold 83 homes during the first nine months since the project reopened last May, the company announced.

That’s27 units more than it reported sold in August. Lennar reported that it sold 16 units in one four-week period.

Lennar still has a long way to go: 496 units currently are being developed, and ultimately, plans call for a total of 1,380 units down the road.

The company said in August it had 203 homes available for sale. In its latest news release, it said that the project’s initial offering consists of 123 homes.

The condo project had been on hold for three years before sales resumed last year. Some buildings remain on hold.

The builder also reported that it had sold 21 units during presales last April. A company release said that buyers consist mainly of empty nesters and young buyers looking for a “lock and leaveâ€

Analyst: O.C. housing shortage coming soon

March 31st, 2011, 12:00 am
by Jon Lansner

Veteran Southern California real estate analyst G.U. Krueger regularly adds his commentary on the housing market to this blog in a spot we call “Thursday Morning Quarterback.â€