Luna Park in Great Park Neighborhood

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CalBears96 said:
I still don't understand your point #4. What does 133 have anything to do with PS access to 5 or 405? IIRC, Luna Park is going to be in the area between Irvine and Alton. It takes a bit more than 5 additional minutes to get from PS to get to Irvine and Alton to access 5 or 405. Even an extra 10 minutes won't hurt your husband's commute.

Luna Park will get proximity to shopping center when the shopping center is completed, but right now Luna Park is doesn't have anything within a mile.

PS also gets access to GP, but not as easy as GP residents, perhaps. However, there is a cost for easy access to GP. Around $5000 a year in the form of MR. As I mentioned before, other Irvine communities, such as PS, EW, SG, NW, and OH, pay about $4000 a year for MR. GP residents, however pay anywhere from $7000 to $20000, based on the size of their homes. The smallest condos pay around $7000 while the huge homes in Altair pay upwards $20,000. That's MR alone. Altair homeowners pay around $50,000 a year in property taxes because their homes are assessed at more than $3M.

The only point that I agree with you is that PS is currently artificially inflated by FCB money. I'm just glad that we were able to get our home because Shea was pricing Cielo much more reasonable than New Home Company did with Olivewood. CalPac was kind of in between with Azul.
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I still can't believe PS is where it is today. Prior to you living there, it was way more affordable than other parts of Irvine...sort of a hidden gem (though not really a secret place), now it's Orchard Hills Jr.
 
irviniteeee said:
I still can't believe PS is where it is today. Prior to you living there, it was way more affordable than other parts of Irvine...sort of a hidden gem (though not really a secret place), now it's Orchard Hills Jr.
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It was still kind of affordable when I first bought Bluffs there.

I remember the day we moved in, a realtor (Mina Wan) was having Open House on the Bluffs 1 across from our house. We talked to her a little bit and she said that PS is going to be the next big thing in Irvine. When we bought our home, the base price for Bluffs 2 was around $575/sq ft, and she said that PS will going to be around $850/sq ft within a couple of years. I told my wife that Mina was crazy. Now look at where we are. Homes are selling anywhere from $900/sq ft to $1150/sq ft. And these are not even view lots. Some view lots are going at $1500/sq ft. 😂
 
CalBears96 said:
It was still kind of affordable when I first bought Bluffs there.

I remember the day we moved in, a realtor (Mina Wan) was having Open House on the Bluffs 1 across from our house. We talked to her a little bit and she said that PS is going to be the next big thing in Irvine. When we bought our home, the base price for Bluffs 2 was around $575/sq ft, and she said that PS will going to be around $850/sq ft within a couple of years. I told my wife that Mina was crazy. Now look at where we are. Homes are selling anywhere from $900/sq ft to $1150/sq ft. And these are not even view lots. Some view lots are going at $1500/sq ft. 😂
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Personally, I find Portola Springs to be overly hyped and, as you mentioned, quite expensive. I am not inclined to deplete all my savings on a home, especially since a significant portion of the initial investment would go to the lender. I prefer to allocate funds towards my children's college tuition. Additionally, I aim to spend more time at home, reduce travel, and enjoy quality family time, which is why I am considering Great Park.
 
BlueEarth said:
Reason:
  1. Proximity to Highways: Luna Park is close to both I-5 and I-405. My husband is a software engineer, and he needs to commute to his office, so highway access is essential for us.
  2. Convenient Shopping: Portola Springs is entirely residential with no nearby shopping centers, whereas Luna Park has shopping centers within a mile.
  3. Affordability: Homes in Portola Springs are very pricey and exceed our budget. We feel they are artificially inflated, possibly due to a new school with a good rating.
  4. Traffic Congestion: Portola Springs has become too crowded, and the 133 experiences significant traffic congestion during office hours, making it difficult to navigate. Additionally, there are no nearby exits to alleviate this congestion.
  5. Great Park Access: Last but not least, Luna Park offers easy access to the Great Park, which is a significant advantage for our lifestyle.
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Have you considered Foothill Ranch? The Meadows is quite nice, or Baker Ranch where I am. I'm also a software engineer working at one of the FAANGs in OC and it's about a 20 minute commute in the morning, and 30 minutes in the evening.

To get to the 405 from Foothill Ranch takes me about ~8 minutes. Spectrum in around the same time. And I have a less than 5 minute drive to Target, Home Depot, Walmart, Ralphs, and a bunch of fast casual takeout food.
 
@ThirtySomethingWEquity Yes, I also searched in Foothill Ranch, but I was not that impressed with the homes currently on the market. Thank you for your suggestions.

I really liked the Meadows community and TB Builders' construction. Their work is of high quality and thoughtfully designed. Unfortunately, it was too late for us. By the time we visited the Meadows community, they were only selling model homes, which were out of our budget. I remain very impressed with TB Builders' construction.

By the way, do you have kids? If so, I assume you might be considering sending them to OP. However, what are the alternative private schools in Lake Forest for elementary education?
 
Have you looked into Aliso Viejo area along 133 & 73? You can get $1.2 to $1.5 mil SFH with good school district and minutes to Irvine.
 
BlueEarth said:
@CalBears96 Is it true that some locations in PS are vulnerable to mudslides?
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I live on a hillier part of Portola Springs and saw the same environmental hazard disclosure about the property being located on expansive soil zone as I did on a different property on a flatter part of older Irvine off Jeffrey and Walnut, for what it’s worth.

As others have mentioned, have you determined an accurate estimate of Mello Roos you would pay in Luna Park?
 

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GrowthStateofMind said:
I live on a hillier part of Portola Springs and saw the same environmental hazard disclosure about the property being located on expansive soil zone as I did on a different property on a flatter part of older Irvine off Jeffrey and Walnut, for what it’s worth.

As others have mentioned, have you determined an accurate estimate of Mello Roos you would pay in Luna Park?
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Its around $1000
 
BlueEarth said:
Its around $1000
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It's impossible for a community in GP to have $1000 MR. The reason GP pays much higher MR than the rest of Irvine is not because of IUSD, but access to GP itself. Since Luna Park is part of GP, MR will be much much higher than $1000. Guaranteed.
 
Danimal said:
Have you looked into Aliso Viejo area along 133 & 73? You can get $1.2 to $1.5 mil SFH with good school district and minutes to Irvine.
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I'm a big Aliso Viejo fan as well. I just wanted to chime in to say that many homes in Aliso closer to the 133/73 & El Toro are Laguna Beach school district, so you will have to venture all deep into Laguna Beach to send your child to school. Example: Top of the World Elementary & Laguna Beach High which are both one way in and one way out from Aliso basically. If there is any summer traffic, flooding, fires, etc. it will affect the route to the schools.
 
PS is something else. Once the pits of Irvine now getting fully built out. PS has a ways to go, i dont understand how the infrastructure will keep up with the demand. Single lane roads, no bike lanes, poor crosswalk designations. Time will tell
 
PS will always suffer from its lack of commercial until they finally push to connect Portola Parkway to Foothill Ranch. If anything, residents would benefit from a connecting bike path circling back to the Borrego Trail to Irvine Blvd.
 
CalBears96 said:
It's impossible for a community in GP to have $1000 MR. The reason GP pays much higher MR than the rest of Irvine is not because of IUSD, but access to GP itself. Since Luna Park is part of GP, MR will be much much higher than $1000. Guaranteed.
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CalBears96 said:
It's impossible for a community in GP to have $1000 MR. The reason GP pays much higher MR than the rest of Irvine is not because of IUSD, but access to GP itself. Since Luna Park is part of GP, MR will be much much higher than $1000. Guaranteed.
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I saw the builder broacher and the mello roos range is from $9,600 to $11,500
 
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