IRVINE, Calif.--(BUSINESS WIRE)--Landsea, an Irvine-based homebuilding company with new home communities across the nation, has announced the acquisition of 550+ lots in Lake Forest, Calif. The entitled lots were purchased from Sun Ranch Capital Partners for an undisclosed amount.
“We’re excited about our ninety-five acre acquisition in Orange County,” said John Ho, Landsea Holdings Corporation, CEO. “This is a truly unique and special opportunity. Strategically, this acquisition provides numerous intangible benefits to our organization – benefits which simply can’t be derived from a more typically sized acquisition.”
Landsea plans to build a new gated, highly amenitized community that will be comprised of five distinct neighborhoods, consisting of 313 single-family detached homes and approximately 240 townhomes. The gated community will appeal to a broad market, with homes ranging in size from approximately 1,300 square feet to nearly 4,000 square feet, many of which will enjoy views of Catalina Island to the west and the Saddleback Mountains to the east.
Prices for the community will range from the low to mid $400,000s to the low millions, targeting a wide variety of homebuyers, including singles, young families and buyers who want to either move up or size down. The community will have no Mello-Roos tax and an already low property tax, thus providing homebuyers with an affordable and efficient option in their new home search.
The development benefits from close proximity to the Cleveland National Forest, highly rated schools within the Saddleback Valley Unified School District, the new 57-acre Lake Forest Sports & Recreation Center, a new five-acre park adjacent to the project, an integrated trail system, and Whiting Ranch Wilderness Park for mountain biking, hiking and cross-country running. Nearby employment opportunities include Oakley, Panasonic Avionics, Nike, Broadcom, and other large corporations and health facilities. Residents will have access to shopping in nearby Foothill Ranch and the Irvine Spectrum with easy access to State Route 241 and nearby I-5.
The gated community will include a clubhouse and pool, picnic area and tot lots. Award winning architects for the project are Ettinger & Associates, SDK Atelier, William Hezmalhalch Architects, and Woodley Architectural Group.
“Our parent company has been a homebuilder dedicated to building with green technology in Asia and Europe long before building green became a prominent trend in the U.S., and our company is committed to continuing the same principles here,” said Ho. “We couldn’t be happier about the location. The City of Lake Forest has been doing great things, and our future homeowners are going to be the fortunate recipients of their hard work and progress.”
Landsea opened its first U.S. community called Kingswood in the master plan of Jordan Ranch in Dublin Calif., approximately 30 miles from San Francisco. Kingswood is comprised of 109, 2, 3 and 4 bedroom condominiums priced from the $600,000s. Since the grand opening late summer, Kingswood has established itself as the fastest selling community in the master plan.
Landsea Group, founded in 2001 and noted as one of the top 100 real estate companies in China, has expanded dramatically from its origins in mainland China to Germany and the United States, bringing an unparalleled combination of progressive vision, eco-efficient style and technologically advanced innovation to the residential marketplace. Landsea is leading the market in environmentally conscious real estate development and operations and is at the forefront of the sustainable building industry. With more than 50 on-going projects covering a total development area of over 91 million square feet, the company’s total assets reached $4.4 billion in 2014. Unique for a developer, Landsea Group’s green technology is supported by its Germany based research and development operation, architecture design center, and green construction technology company and owns 150 patents in construction technology that is incorporated into their developments. In the United States, Landsea is currently developing communities, including: a luxury high-rise set along the banks of the Hudson River with spectacular views of the Manhattan skyline in Weehawken, New Jersey, Pierce Boston, a striking 30-story mixed-use residential tower in the Fenway Neighborhood of Boston, MA, Kingswood, 109 beautifully designed townhomes in Dublin, California, and The Westerly, an exciting new community with three new home neighborhoods in Simi Valley, California. For more information: www.landseahomes.com / 949.345.8080.