Monthly Archives: June 2012

Irvine Housing by the Numbers – June 2012 Update

Here is an updated list of the housing numbers for each of Irvine’s neighborhood. Of note, the Airport (IBC) area, Orange Tree, Shady Canyon, Turtle Ridge, Turtle Rock, University Park, University Town Center, Walnut, and Westpark have a year-over-year increase in the price per square foot for homes that sold in May in these areas. All other neighborhoods in Irvine had a decrease.

Overall Irvine’s May year-over-year price-per-square-foot selling price was down 4.6%.

Area List Price/# Homes Listed

Sold Price/# Homes Sold

List Per SF Sold Per SF % Chg Y-O-Y Sold Price/SF
Airport/IBC
12-May $459K/41 $514K/19 $356 $325 5.90%
12-Apr $442K/48 $340K/25 $350 $304 -5.90%
12-Mar $415K/45 $412K/16 $348 $346 11.60%
12-Feb $392K/48 $330K/15 $337 $288 -11.70%
12-Jan $374K/52 $327K/18 $332 $317 -17%
Columbus Grove n/a
El Camino
12-May $555K/19 $435K/19 $365 $280 -17.2%
12-Apr $572K/22 $458K/12 $329 $239 -22.10%
12-Mar $546K/22 $468K/10 $329 $327 3.80%
12-Feb $467K/26 $340K/5 $339 $281 -6.60%
12-Jan $462K/28 $389K/6 $322 $267 -28.40%
Northpark
12-May $700K/59 $438K/35 $329 $278 -7.3%
12-Apr $649K/51 $390K/29 $339 $283 -10.04
12-Mar $674K/50 $465K/36 $341 $281 -8.80%
12-Feb $459K/74 $415K/13 $301 $280 -9.40%
12-Jan $465K/91 $412K/19 $290 $277 -20.90%
Northwood
12-May $697K/52 $584K/32 $314 $267 -13%
12-Apr $599K/59 $579K/30 $312 $310 5.10%
12-Mar $519K/61 $518K/20 $316 $301 -1.60%
12-Feb $504K/66 $292K/13 $300 $287 -7.10%
12-Jan $489K/78 $518K/17 $286 $292 -7.60%
Oak Creek
12-May $579K/17 $240K/8 $333 $281 -1.7%
12-Apr $530K/19 $628K/14 $303 $315 5.90%
12-Mar $425K/27 $284K/14 $309 $292 -1.40%
12-Feb $487K/26 $267K/13 $317 $267 -15.80%
12-Jan $350K/33 $249K/9 $308 $261 -20.40%
Orange Tree
12-May $280K/3 $145K/2 $307 $261 6.1%
12-Apr $278K/6 $165K/1 $256 $203 -31.90%
12-Mar $245K/9 $189K/6 $253 $279 4.10%
12-Feb $242K/6 $200K/6 $249 $230 -33.50%
12-Jan $216K/12 $205K/5 $252 $249 -13.50%
Portola Springs
12-May $660K/23 $582K/13 $335 $284 -4.10%
12-Apr $693K/30 $596K/11 $330 $299 -11%
12-Mar $639K/25 $950K/5 $325 $320 11.90%
12-Feb $641K/31 $510K/1 $317 $249 -12%
12-Jan $623K/43 $570K/7 $321 $293 1.40%
Quail Hill
12-May $714K/18 $465K/13 $376 $347 -13.0%
12-Apr $749K/17 $863K/6 $373 $374 7.50%
12-Mar $500K/21 $505K/9 $360 $317 -3.10%
12-Feb $515K/21 $470k/6 $364 $307 -10.80%
12-Jan $560K/20 $512K/8 $324 $326 -13.30%
Rancho San Joaquin
12-May $475K/5 $410K/2 $313 $306 -2%
12-Apr n/a
12-Mar $465K/5 $500K/2 $246 $296 n/a
12-Feb $492K/6 $360K/1 $297 $336 n/a
12-Jan n/a
Shady Canyon
12-May $6,000K/25 $4,019K/6 $705 $673 30.70%
12-Apr $5,995K/23 $4,875K/4 $720 $512 -6.10%
12-Mar $5,980K/21 $4,436K/4 $720 $657 28.80%
12-Feb $5,995K/23 $3,200K/3 $725 $603 7.50%
12-Jan $5,980K/23 $2,670K/5 $720 $534 24.20%
Turtle Ridge
12-May $1,749K/31 $1,044K/8 $545 459 0.101
12-Apr $1,724K/28 na/8 $533 $421 5.20%
12-Mar $1,899K/28 $1,500K/7 $550 $485 -8.30%
12-Feb $1,899K/27 $955K/4 $527 $441 18.90%
12-Jan $1,672K/32 $532K/4 $493 $355 -25.30%
Turtle Rock
12-May $939K/37 $730K/9 $454 $410 3.3%
12-Apr $986K/43 $1,050K/5 $457 $461 10.30%
12-Mar $967K/40 $690K/11 $448 $381 17.60%
12-Feb $1,024K/38 $1,422K/4 $457 $559 14.30%
12-Jan $974K/40 $545K/8 $458 $295 -14.20%
University Park
12-May $602K/12 $539K/8 $346 $291 6.20%
12-Apr $609K/11 $538K/7 $352 $272 -15%
12-Mar $552K/14 $431K/6 $288 $305 -5.60%
12-Feb $578K/14 $555K/4 $297 $286 9.60%
12-Jan $595K/14 $420K/7 $289 $281 -10.80%
University Town Center
12-May $440K/5 $450K/5 $371 $311 6.90%
12-Apr $340K/3 $375K/5 $338 $326 6.90%
12-Mar $455K/7 $478K/4 $298 $321 1.90%
12-Feb $347K/6 $384K/1 $342 $265 -19.50%
12-Jan $467K/10 $480K/1 $330 $315 n/a
Walnut
12-May $628K/5 $595K/5 $309 $314 14.6%
12-Apr $532K/3 $580K/5 $313 $306 -1%
12-Mar $619K/5 $635K/3 $327 $300 3.40%
12-Feb $600K/5 $509K/3 $316 $310 -9.40%
12-Jan $600K/11 $596K/4 $298 $259 -12.80%
West Irvine n/a
Westpark
12-May $628K/5 $595K/5 $309 $314 14.60%
12-Apr $624K/14 $651K/8 $360 $304 -10.30%
12-Mar $565K/17 $615K/10 $319 $331 -2.50%
12-Feb $649K/21 $506K/6 $319 $361 21.50%
12-Jan $552K/20 $695K/2 $331 $356 -11.20%
Woodbridge
12-May $586K/50 $430K/25 $350 $307 -6.40%
12-Apr $554K/68 $422K/29 $347 $289 -8%
12-Mar $494K/68 $345K/31 $339 $283 -9.30%
12-Feb $459K/83 $399K/23 $328 $312 -4.90%
12-Jan $435K/93 $402K/15 $317 $273 -6.20%
Woodbury
12-May $872K/24 $650K/11 $363 $310 -3.40%
12-Apr $784K/30 $475K/14 $357 $291 -9.30%
12-Mar $680K/35 $678K/21 $334 $289 0%
12-Feb $650K/33 $419K/8 $330 $298 -4.70%
12-Jan $611K/44 $460K/8 $314 $292 -16.80%

Source: Redfin.com

Discuss below or on Talk Irvine.

Open House Review: 10 Windflower

A Winning Viewpoint: 10 Windflower, $1,350,000

In my last two Open House Reviews, I visited million dollar Turtle Rock properties and I wondered how a third property might compare. I found an intriguing answer at 10 Windflower.

Last week I saw the possibilities of 11 Bethany with a 90% remodel and quality upgrades. The week before I saw the potential in 18762 Via San Marco with a 10,000 sq. foot lot and multi bay window views of a private green hillside.

Now, as I walked up to 10 Windflower, I was looking for a competing viewpoint.

The house has a substantial presence from the street. Inside a bright inviting living room with a custom fireplace is on the right and a formal dining room is off to the left. Continuing through the home, a large kitchen with a butler area is on the left. There’s a breakfast nook in the center and a large family room on the right.

But when you reach the back of the house you really begin to appreciate what this home offers. Positioned on one of the highest points in Turtle Rock, one view after another blends into a panorama overlooking Shady Canyon, Bommer Canyon and Turtle Ridge. Morning light over coffee, afternoon breaks, glowing sunsets, and evenings skies are all part of the package here. A fire pit and Jacuzzi complete the backyard refuge.

The floor plan and the overall finish of the house have a clear, direct feel, but the view confirms the property’s appeal. For the right buyer this is perfect solitude or really great entertaining, made to order.

Oak flooring, new sisal like carpet, strategic skylights, the butler service area off the dining room, a good sized computer area near the kitchen, and three custom fireplaces round out the house’s appeal.

A custom staircase leads to four bedrooms and 2 baths upstairs. All are well done, but the master bedroom is a stand out. That same view so nicely framed downstairs has been reframed in the master bedroom with a sitting area, dual walk in closets, French doors, fireplace and master bath.

According to the agent, there was a fire at this property in 1993 which resulted in the new custom four bedroom, 3.5 bath floor plan and complete rebuild in just under 3,000 square feet. Now the home is new to the market and is being sold with or without furnishings.

Specifics for this Two Level Traditional:

  • Bedrooms(s): 4
  • Bathroom(s): 3.5
  • Square Ft: 2,956
  • $/Sq. Ft: $457
  • Lot Size: 5,046
  • Property Type: Single Family Home
  • Year Built: 1978. Complete rebuild: 1993
  • HOA Dues: $99 month
  • Central Air
  • Two Car Garage
  • Price Per SqFt: $437
  • Irvine School System
  • No Mello Roos Tax

Who will opt for this property? A family who enjoys backyard space and entertaining will be attracted to the prime hilltop location with its panoramic view. A couple who frequently entertains and often has overnight guests might choose this home. Other families will be attracted to the very functional floor plan, and outstanding Turtle Rock schools and parks.

Considerations and Comparisons: All bedrooms are upstairs, which might be a problem for buyers with older family members. Some buyers might be looking for more kitchen upgrades and additional patio accessories for entertaining. In comparisons with the other two properties, the wood floors in 11 Bethany excel and the multiple bay windows and French doors score at 18762 Via San Marco. But in the final vote, I would choose 10 Windflower with its sublime hilltop views. That, of course, is a very subjective choice. As individual buyers pencil out the costs of assets versus final price, they will have to decide what it costs and what really counts for them. Nearby, 14 Elderberry is pending at $1,050,000 with 3 bedrooms and 2.5 baths and canyon views. And 24 Southern Wood is listed at $1,198,000 with 4 bedrooms and 3 baths and canyon views.

Discuss below or on Talk Irvine.

West or North?

Once you decide to cross Culver and give a chance to the Irvine schools of Tustin Unified School District, the question is, West Irvine or Northpark? Both have very good schools. Both have a mix of condominiums and single family residences. Northpark is a guard gated community where as West Irvine isn’t. Whether or not anyone needs a guard and a gate when they live in the safest city of America is another debate, but a general opinion is that Northpark condos cost more than the others in area because of the ‘guard gate’. Is the tax of the guard gate true? Let’s compare two properties today, one in West Irvine and one in Northpark, and see if it’s true.

76 Burlingame Irvine, CA 92602

Listing Price: $475,000

Beds: 2

Baths: 2.5

Sq. Ft.: 1,670

$/Sq. Ft.: $284

Property Type: Residential Condominium

Style: Two Level, Other

Year Built: 2000

Community: Northpark

Builders Tract Name: Brisbane

Builders Tract Code: BRIB

Builders Model Code: B

Monthly expenses:

HOA Dues: $358/month ($203+$155)

Property Tax ( 1.0595%): $5,032 Annually

Mello Roos: $1,388 Annually

Monthly Property Tax+ Mello Roos: $535

Monthly Mortgage (30 YR Fixed, 3.625%): $1,733

Pricing History:

Jun 12, 2012 Price Changed $475,000

May 21, 2012 Price Changed $469,000

May 03, 2012 Listed (Active) $475,000

Dec 07, 2005 Sold (Public Records) $660,000

Monthly Fixed Expenses: $2,626

Monthly Fixed Expense/ SF: $1.57/SF

47 GRANADA, Irvine CA 92602

Listing Price: $499,000

Beds: 2

Baths: 2.5

Sq. Ft.: 1,640

$/Sq. Ft.: $305

Property Type: Residential Condominium

Style: Two Level

Year Built: 2001

Community: West Irvine

Builders Tract Name: Summerplace

Builders Tract Code: SUMP

Builders Model Code: 1

Monthly expenses:

HOA Dues: $350/month ($295+$55)

Property Tax ( 1.0595%): $5,286 Annually

Mello Roos: $1,170 Annually

Monthly Property Tax+ Mello Roos: $538

Monthly Mortgage (30 YR Fixed, 3.625%): $1,824

Pricing History:

May 27, 2012 (Listing price change) $499,900

Apr 21, 2012 (Listing price change) $525,000

Mar 19, 2012 Relisted (Active)

Mar 19, 2012 Listed (Active) $549,000

Mar 14, 2005 Sold (Public Records) $580,000

Monthly Fixed Expenses: $2,712

Monthly Fixed Expense/ SF: $1.65

Condominium home owner’s dues are around $350 per month for both properties. They both fall under the property tax rate of 1.0595%. Price/ SF for the West Irvine condo is more than the Price/SF for the Northpark condo. Since our West Irvine condo’s monthly expenses are more than the Northpark condo’s monthly expenses, it’s clear that there is no guard gate tax, at least for these two properties.

Which one would you buy? Irvine has a lot of areas with exorbitant HOA dues. Would you buy a property with a HOA more than $300 per month? Or would you go for a property that hasn’t seen significant correction from the peak of 2005/2006 prices?

Discuss below or on Talk Irvine.

A Review of The Hill Tract at Lambert Ranch

This week, I will review the third and final tract in Lambert Ranch, The Hill. This is the mid-range tract, with large (but not enormous) homes and gorgeous views all the way to the coast on a clear day. Like the other tracts, The Hill offers a bathroom in every bedroom, options for private quarters, and a lot of flexibility in how the rooms are used. Click here to see my first review of Lambert Ranch, which includes general information about the community.

The Hill Spec Sheet

Residence 1

3,418 – 3,885 Sq Ft

Downstairs Bedroom

4 Bedrooms, 4 Baths, Great Room, Loggia, Formal Dining, Bonus Room, 3 Car Garage

Optional 5th Bedroom, Deck at Master, Office at Casita, Wok Kitchen, Conservatory

Starting from $1,106,800

Have you ever joked that it would be fun to buy a house next to your family or close friends and just cut a hole in the back fence so the kids could run back and forth? Well, The Hill does one better: you can buy adjacent properties and create a giant, shared backyard and/or a shared front courtyard. I walked into the first house and didn’t even realize right away that I’d crossed into the second. I thought it was a pretty cool setup if you had someone to do it with. The nice thing is, other than the outdoor spaces, the two homes are truly separate.

Residence 1 has a small casita at the front of the home, accessible both from the entryway and the courtyard. It is a simple room, slightly smaller than in the other Lambert Ranch homes, but still with a private bath. For a bit of extra space, you can opt to have an office, which lacks a closet, but still has the bathroom.

After walking down a breezeway, you enter the main residence, with a formal dining room to one side and the staircase on the other. The dining room is much closer to the kitchen than in the other Lambert Ranch homes, so it feels more accessible and convenient. Between the dining room and kitchen, is a pantry and your choice of either a butler’s pantry or a wok kitchen (see my review of the Grove at Lambert Ranch for more on wok kitchens).

The kitchen is beautiful, with a large island that seats six of gourmet appliances. It has room for a casual dining table as well. Aside from the island, the kitchen lacks counter space, with just a small space on either side of the stove.

Adjacent to the kitchen is a large great room, with a fireplace at the far end. The room is wide and spacious, with large doors to the backyard on one wall and small windows on another. Also off the kitchen is the loggia (conservatory optional), creating yet another dining area or casual indoor/outdoor living space.

Residence 1 has a two car garage with your choice of a home room and additional storage space, or a fifth bedroom. Unlike all of the homes other Lambert Ranch homes, it looks like you actually have to go into the hallway to access the bathroom. Because the model is set up with a sales office, I didn’t get to see what it would look like with a downstairs bedroom.

Moving upstairs, there is a bonus room at the top with lots of windows and options for various built-ins. Both secondary bedrooms upstairs have private baths and one has both a walk-in closet and a small balcony. In keeping with the trend throughout Lambert Ranch, the bedrooms are all a good size and they don’t share walls with each other.

The laundry room has plenty of counter space, a big sink, and a large storage closet.

The master bedroom has a huge wall of windows on one side and a walk-in closet that runs the entire length of the room. There is an option for either a big deck or an 18’ x 10’ master retreat. I would absolutely choose the retreat, knowing I wouldn’t sit out on the deck much but could definitely use the extra space for an office, a gym, or a sitting room. The bathroom is quite large, with split sinks, a bathtub, and a shower that is long, somewhat narrow, and that doesn’t have a door (I’ve seen this as a trend in newer homes, but not in the other Lambert Ranch models). I thought there was a little too much wasted space in the bathroom though.

I think my favorite part of this home is the backyard and loggia. It was a beautiful outdoor space with room to play, have a bbq, and more.

Residence 2

3,661 – 4,165 Sq Ft

Downstairs Bedroom

5 Bedrooms, 5 ½ Baths, Great Room, Loggia, Formal Dining, Bonus Room, 3 Car Garage

Optional Private Quarters, Master Retreat, Office at Bed 3, Deck at Master, Wok Kitchen, Conservatory

Starting from $1,172,800

As I mentioned above, I was in Residence 2 before I even realized I had left Residence 1. Obviously, that would only happen if you chose to connect the two homes, but it did cause a bit of confusion!

Like in the first home, this one has a bedroom or office space at the front of the home, accessible from the foyer and the courtyard. However, this one is a not a separate casita. In the model, it is set up as an office with a lot of built-in cabinets around the room. All of the cabinets made it hard to picture what it would be like if it was set up as a bedroom, though that is an option. It can also be private quarters, which includes a service bar.

As in Residence 1, there is a long breezeway that separates the front room from the rest of the house, with a dining room being the first room you come to inside the main home. The dining room is actually part of the great room, and is closer to the living space than to the kitchen. While it could work as a formal dining room, its proximity to the living area makes me think a casual table would feel homier.

I like the layout of the kitchen more than I did in Residence 1. The island isn’t quite as wide, with seating for four instead of six. There are many large storage drawers and more counter space. Two separate doorways at the back lead to other small rooms. Through one door are a home room and a pantry. Through the other is a “mom’s room.” I like the name, as I can say the space is officially mine and ban all other family members from using it! It is really just a small office space, perfect for paying bills and keeping important paperwork close at hand. Serious cooks can replace the mom’s room with a wok kitchen.

The home comes standard with a three-car tandem garage. However, for families who don’t think just one laundry room upstairs is enough, or who dislike the idea of upstairs laundry, you can opt for a two-car garage and a downstairs laundry room. I don’t like doing laundry and having two laundry rooms in my house certainly isn’t going to make me like it more! I would definitely take the three-car garage so my husband could have a workbench (only seems fair if I get a mom’s room, right?).

In this model, the loggia/conservatory is off the great room and the backyard access is off the kitchen. Most other Lambert Ranch homes have it the other way around. I don’t think it makes a difference either way, and I still like the idea of having a covered space that connects the house to the backyard. Remember, in the model, the backyard is shared with the yard from Residence 1.

Upstairs, there are four bedrooms and a bonus room. The bonus room is right at the top of the stairs and is next to the master. The other three bedrooms are on the other side, with two of them actually sharing a wall. I actually thought the upstairs was a bit of a maze, with linen cupboards and closets everywhere and more hallways than necessary. I didn’t really like the layout.

All three secondary bedrooms have their own bathrooms, including one where the sink area is separated by a door from the tub/shower and toilet. Two of the rooms are fine, but I really disliked the layout of the third (called bedroom 3 on the floor plan). It has two doors leading out to the same balcony, whereas I would prefer just one door so there is enough wall space to actually make room for furniture. That same room also has a small foyer that I think is a total waste of space.

The Master is right off the bonus room. It has an optional large deck (as shown in the model) or a retreat. Again, I would definitely choose the retreat. The master has a big bathroom and two walk-in closets. If you opted for the downstairs laundry room, you could choose to eliminate the upstairs laundry and create an expanded walk-in closet in the master instead. For some, that might make having laundry downstairs more appealing. I’d still choose the three-car garage and upstairs laundry though, since the house has plenty of storage and doesn’t really need another expanded closet.

I really didn’t like the layout upstairs in Residence 2. If I was buying a home in Lambert Ranch, this is not a model that I would consider.

Residence 3

3,792 – 4,392 Sq Ft

Downstairs Master Bedroom with Optional Second Master Upstairs

5 Bedrooms, 5 Baths, Great Room, Loggia, Formal Dining, Bonus Room, 3 Car Garage

Optional Private Quarters, Second Master Upstairs, Extended Loggia, Office, Music Room, 2nd Laundry, Deck at Second Master, Wine Room, Wok Kitchen, Conservatory

Starting from $1,234,800

The largest home in The Hill tract, Residence 3 has a pretty front room that can be a music room (aka living room), an office, or a bedroom. The layout of the music room and office are nearly identical, but the office is listed as being 17 square feet bigger, so I don’t see a reason to choose a music room. If you opt for a bedroom, it adds a walk-in closet. All options have a bathroom.

Beyond the front room is a formal dining room that leads through to the pantry area and then the kitchen. There are three options for the pantry area (all include a butler’s pantry): storage pantry, wok kitchen, or wok kitchen + wine room. The kitchen is longer and narrower than the other models, but still has ample counter and cabinet space. The island is long and skinny, but seats four and feels more manageable than the gargantuan islands in some of the other models.

The great room at the back of the house is bigger than in the other homes in the tract. It has French doors leading out to the backyard and the stairway is tucked into a little nook at one side.

A short hallway off the great room leads to a downstairs master bedroom. The room has lots of windows and the bathroom features split sinks, a big bathtub, and a walk-in closet. There is a loggia off the bedroom, with options to create an extended loggia or conservatory that also connect to the great room.

Residence 3 comes standard with a three-car tandem garage, small downstairs laundry room, and a small storage closet next to the stairs. Reduce to a two-car garage and you have four different options. One has a bigger laundry room, second walk-in closet in the downstairs master, and additional storage space behind the stairs. A second option leaves some storage in the garage and adds an exercise room inside. The third option maintains some storage in the garage, but adds a huge walk-in closet to the downstairs master. The final option turns the master bedroom into private quarters. It adds a porch and a sitting room with service bar. If you go with this option, the private quarters become a huge suite that encompasses about half of the living space downstairs.

Upstairs, you have to choose between a bonus room and a master suite. If you choose the bonus, there are still three bedrooms upstairs, each with a private bath, but none with a bath and closet as large or fancy as in a typical master. If you go with the master, you get the nicer bath and closet, but you lose the bonus room entirely. Choosing the master also gives you the option to add on a huge deck (retreat not an option in this model). It may be a hard choice for some. I think I would keep the bonus room, since I don’t need an overly fancy bathroom and would rather have the extra space for a playroom or office. The model is set up with a master but no deck.

One of the other upstairs bedrooms is extra large, with room for a table and chairs in addition to the standard bedroom furniture. That one also has a walk-in closet and a bathroom that separates the sink area from the tub/shower and toilet.

No matter which options you choose, this home will have one laundry room upstairs and another one downstairs. I really do not see the point of this and would much rather have one of them be a closet, an office, or any other more versatile space. Other than that, I don’t have any complaints about the house. It was gorgeous and every room is big, open and well-laid out.

Owners in The Hill will be treated to gorgeous views and large yards. The houses are big, but not massive, and have plenty of options for creating the perfect space for your family (or families, if you choose to create a compound estate). I’m looking forward to watching Lambert Ranch develop as they build more homes, parks, and community spaces.

Affordable Housing in Irvine

Last week I wrote about the effect that lack of the redevelopment money would have on the build out of the Orange County Great. But the question also came up on what effect the lack of redevelopment funds would have on building affordable housing in Irvine. So today’s post is a brief look at affordable housing in Irvine.

As I wrote last week, “[R]edevelopment funds are a relatively new invention in Irvine. The redevelopment district was built to aid with the development of the Orange County Great Park. Redevelopment money generated from this redevelopment district was to be used for the Great Park development”. This means that redevelopment funds have never been an important source for building affordable housing in Irvine. Instead, as the housing element chart for affordable rental units built in Irvine shows, other means were used [See the Funding Source(s) column in the chart found below.]. These include bonds, grants, loans, and tax credits. These various options might be from federal, state, county, or city governments. In addition, developer funding, deferred developer fees, and partnerships with developers are sometimes used. The city partnerships with developers includes partnerships with The Irvine Company as well as non-profit developers such as Jamboree Housing, Bridge Housing, and Irvine Housing Opportunities, Inc. In addition, with the goal of providing ownership of permanent affordable housing as well as affordable rental housing in Irvine, the city started the Irvine Community Land Trust in 2005.

Recently, the city council approved without changes the action plan for the federal Community Development Block Grant (CDGB) and the HOME Investment Partnership Program that the Irvine Community Service Commission recommended. The Irvine Community Service Commission recommended various organizations to receive these funds. However, five organizations that applied were not recommended; limited funds were stated as a reason.

City of Irvine C-46 Housing Element General Plan

Table C-32: Affordable Housing Developments

Project Name Type Total Units Assisted Units/ Income Level Unit Size Funding Source(s) Earliest Date of Conversion
Turtle Rock Canyon Family 217 66 very low and low income units 1, 2, 3 BR 1998 CSCDA Series A Bond 2044
Dartmouth Court Family 294 89 very low and low income units 1 and 2 BR 1998 CSCDA Series A Bond 2044
Villa Sienna Family 1,442 216 very low, low, and moderate income units Studio, 1, 2, 3 BR 1998 CSCDA Series PP Multi-Family Bond 2047
Toscana Apartments Family 562 84 very low and low income units Studio, 1, 2 BR 1990 Series B County Bond 2046
Inn at Woodbridge Senior 116 116 very low and low income units 1 and 2 BR Tax Credits, City of Irvine CDBG 2050
Santa Alicia Family 86 86 very low and low income units 1, 2, 3, 4 BR 1998 CSCDA Series A Bond, Tax Credits 2052
San Paulo Villas Family 382 173 very low, low, and moderate income units 1, 2, 3 BR 1998 CSCDA Series A Bond, City of Irvine CDBG, County of Orange 2023
Montecito Vista Family 162 160 extremely low, very low, and low income units 2 and 3 BR City of Irvine HOME & CDBG, County of Orange HOME & Redevelopment, OC Apartment Development Revenue Bonds, Low Income Housing Tax Credit 2061
Windrow Apartments Family 96 96 extremely low and very low income units 1, 2, 3 BR City of Irvine HOME & Workforce Housing Grant, County of Orange 2060
Laguna Canyon Family 120 120 very low income units 1, 2, 3 BR Tax Exempt Bond, County Tax Credits, CalHFA Bridge Loan, 9% Tax Credit Financing, OC Housing Authority 2061
Columbus Grove Family 527 27 very low and low income units 1, 2, 3 BR City of Irvine CalHOME, CDBG & ADDI 2037
Woodbury Walk Family 150 150 very low income units 1,2,3 BR City CDBG & HOME, 9% LIHTC Tax Credit, OCDA Set Aside, OC Strategic Priority Affordable Housing Funds 2064
Kelvin Court Family 132 27 very low income units Studio, 1, 2, & 3 BR Developer financed 2061
Granite Court Family 71 71 extremely low and very low income units 1,2, & 3 BR Tax exempt bonds, CA Multi-Family Housing Revenue Bond, CA Multi-Family Housing Loan Program, County of Orange HCS, City of Irvine, , deferred developer fee 2106
The Arbor at Woodbury Family 90 90 extremely low, very low and low income units 1,2,&3 BR City CDBG & HOME, County Housing Development, the Irvine Company 2107
Avalon Irvine Family 280 23 very low income units 1 & 2 BR Developer funded 2037
Axis 2300 Family 115 18 low income units 2 BR Developer funded 2040

Source: City of Irvine, 2011

This concludes our brief look at affordable housing in Irvine-perhaps more on this at another time

Discuss below or on Talk Irvine.