Mulberry at Cypress Village

NEW -> Contingent Buyer Assistance Program
What do folks think are the pros and cons of the new neighborhood at the Great Park (Pavilion Park) vs. Cypress Village or Stonegate?  I am looking for a 5 bedroom home (around 2900 - 3000sq.ft.) and the best value appear to be homes in Pavilion Park like Whistler (Lyon), Sagewood(Shea), Rosemist(Lennar).  The homes in CV like Mulberry are getting close to $1.1M with smaller lots.  Any thoughts from the folks on the board?
 
So far I have only counted 3 people including myself that are in CV. The others must be shy or just not forum savy.  :P
 
bones said:
Logik said:
What do folks think are the pros and cons of the new neighborhood at the Great Park (Pavilion Park) vs. Cypress Village or Stonegate?  I am looking for a 5 bedroom home (around 2900 - 3000sq.ft.) and the best value appear to be homes in Pavilion Park like Whistler (Lyon), Sagewood(Shea), Rosemist(Lennar).  The homes in CV like Mulberry are getting close to $1.1M with smaller lots.  Any thoughts from the folks on the board?

I'm in the same boat - looking for a similar sized home.  We are not considering CV because of its proximity to the freeway and all the apartments that are there.  We do like Stonegate - mainly because of the on-site elementary school.  Also, even though there are apartments at Stonegate, there's not as many and the 3 (or maybe its 4) complexes are just along Irvine Blvd.  But the major con to Stonegate is the pricing of the larger homes and they are also on super tiny lots.  We are warming up to the idea of Pavilion Park.  My one big hesitation are the future schools (may be built on toxic land) and how that affects resale.  In terms of (perceived) value, there's really no better place to buy new in Irvine right now.  The taxes are high though so you will need to translate that into cost of house.  Bottom line - there's really no perfect place and it really depends on what your priorities are.

Depending where you are situated in CV you are close or closer to the 5. Some people don't like the idea of noise and air pollution, others like the close proximity for commuting convenience. There are those apartments nearby which may give you an uneasy feeling but I haven't seen any negative impacts from it... yet. From what I have observed, the apartments aren't dingy places that attract riff raff. It ain't cheap to live there. You are close and within walking distance to the two strip malls on Jeffery that are on each side of Roosevelt, which is nice.

If you are at the Great Park you are either closer to the landfill (north east) or closer to the 133 and 5 (south west). You are also on top of a military site and depending exactly where your home is located, people are concerned with the TCE plume underneath. MR here is higher but you get more lot land for the price vs CV. You also border Sand Canyon and have the 5 entrance which in the future will probably be a high traffic zone. If you are on the side of Portola Parkway then you are just further out which some might like the private remoteness and others would find inconvenient.

Both communities will have neighboring schools. CV currently has a middle school and will have an elementary school soon.

Again, it all comes back to what you value most. I would prioritize everything on a list and then choose the homesite that best meets the order of your list. One thing about Irvine is there is no perfect spot and everything is expensive regardless! Haters will continue to hate but they keep building homes that people still buy because they want to live here.
 
bones said:
Chairman said:
There are those apartments nearby which may give you an uneasy feeling but I haven't seen any negative impacts from it... yet. From what I have observed, the apartments aren't dingy places that attract riff raff. It ain't cheap to live there. You are close and within walking distance to the two strip malls on Jeffery that are on each side of Roosevelt, which is nice

I agree with you that the apartments are nice and have pretty high rents but no matter what, they're apartments.  That means theres high turnover and people who live in apartments don't have a strong sense of community.  They're just passing through.  I lived in the Palmeras apartments over in Stonegate when they first opened and there were definitely some questionable tenants.  For example, one guy had a lambo and a ferrari and had strange people over all the time.  I never talked to him but I can probably make a short list of what his occupation was.  And maybe he was 10th guy on the bench for the LA Clippers... or maybe not.  I guess my point here is, I don't want to pay $1.1M+ for a home and be surrounded by apartments.  This is why I like places like Portola Springs (only one apartment complex there and I didn't live on that side), Laguna Altura, Pavilion Park, etc.

The apartments at CV aren't part of the community, unlike SG, including Doria.
 
bones said:
Chairman said:
There are those apartments nearby which may give you an uneasy feeling but I haven't seen any negative impacts from it... yet. From what I have observed, the apartments aren't dingy places that attract riff raff. It ain't cheap to live there. You are close and within walking distance to the two strip malls on Jeffery that are on each side of Roosevelt, which is nice

I agree with you that the apartments are nice and have pretty high rents but no matter what, they're apartments.  That means theres high turnover and people who live in apartments don't have a strong sense of community.  They're just passing through.  I lived in the Palmeras apartments over in Stonegate when they first opened and there were definitely some questionable tenants.  For example, one guy had a lambo and a ferrari and had strange people over all the time.  I never talked to him but I can probably make a short list of what his occupation was.  And maybe he was 10th guy on the bench for the LA Clippers... or maybe not.  I guess my point here is, I don't want to pay $1.1M+ for a home and be surrounded by apartments.  This is why I like places like Portola Springs (only one apartment complex there and I didn't live on that side), Laguna Altura, Pavilion Park, etc.

Valid point. Like Test mentions, they are in their own area and separated by a main street. I don't see it as a big issue since they won't be my direct neighbors on my street. Same thing for the homes over at Willow Bend. Right across the street from them are apartments. But there is a wall. If it is important to you then I agree that you should be looking at other alternatives.
 
bones said:
Ah ok, I didn't know there was a clear divide between the "haves" and the "have nots" ;)

It's more than just a physical divide.  As I explained before, TIC has been improving village design with each new village.  At Woodbury, the apartments are interspersed throughout the community.  At Stonegate, they put them all on one side.  At Cypress Village, they're kicked out altogether.

Notice how this map shows the apartments:http://www.villagesofirvine.com/Villages-and-Neighborhoods/Stonegate/Village-Map

While this map does not:http://www.villagesofirvine.com/Villages-and-Neighborhoods/Cypress-Village/Village-Map

The key difference is in the articles of incorporation.  I've read them for Cypress Village and the apartments are not part of the community.



 
bones said:
Chairman said:
bones said:
Chairman said:
There are those apartments nearby which may give you an uneasy feeling but I haven't seen any negative impacts from it... yet. From what I have observed, the apartments aren't dingy places that attract riff raff. It ain't cheap to live there. You are close and within walking distance to the two strip malls on Jeffery that are on each side of Roosevelt, which is nice

I agree with you that the apartments are nice and have pretty high rents but no matter what, they're apartments.  That means theres high turnover and people who live in apartments don't have a strong sense of community.  They're just passing through.  I lived in the Palmeras apartments over in Stonegate when they first opened and there were definitely some questionable tenants.  For example, one guy had a lambo and a ferrari and had strange people over all the time.  I never talked to him but I can probably make a short list of what his occupation was.  And maybe he was 10th guy on the bench for the LA Clippers... or maybe not.  I guess my point here is, I don't want to pay $1.1M+ for a home and be surrounded by apartments.  This is why I like places like Portola Springs (only one apartment complex there and I didn't live on that side), Laguna Altura, Pavilion Park, etc.

Valid point. Like Test mentions, they are in their own area and separated by a main street. I don't see it as a big issue since they won't be my direct neighbors on my street. Same thing for the homes over at Willow Bend. Right across the street from them are apartments. But there is a wall. If it is important to you then I agree that you should be looking at other alternatives.

Ah ok, I didn't know there was a clear divide between the "haves" and the "have nots" ;)
But you do have to walk by in order to get to the elementary & middle school right?  But you are currently childless.  Jealous - please go travel, eat yummy foods and explore the world.

Haha. The elementary school you wont have to see them. The middle school you will have to walk by the apartments. You must have had an impactful prior experieince with apartment dwellers. :D
 
test said:
bones said:
Ah ok, I didn't know there was a clear divide between the "haves" and the "have nots" ;)

It's more than just a physical divide.  As I explained before, TIC has been improving village design with each new village.  At Woodbury, the apartments are interspersed throughout the community.  At Stonegate, they put them all on one side.  At Cypress Village, they're kicked out altogether.

Notice how this map shows the apartments:http://www.villagesofirvine.com/Villages-and-Neighborhoods/Stonegate/Village-Map

While this map does not:http://www.villagesofirvine.com/Villages-and-Neighborhoods/Cypress-Village/Village-Map

The key difference is in the articles of incorporation.  I've read them for Cypress Village and the apartments are not part of the community.

Test,

Do you know what will be going in the space between 4 and 3.
Just above 1?
And the left side? I saw some mention of private parks but nothing official.

Thanks!
 
test said:
Chairman said:
Test,

Do you know what will be going in the space between 4 and 3.
Just above 1?
And the left side? I saw some mention of private parks but nothing official.

Thanks!

Between 3 and 4 are Sextuple culdesacshttp://www.talkirvine.com/index.php/topic,3636.msg61719.html#msg61719

Above 1 are detached condoshttp://www.talkirvine.com/index.php/topic,3636.msg61659.html#msg61659

Sexy! Wow, there are still a lot of homes to be built in CV. With the Great Park homes coming out do you see price pressure for CV Three M communities? You get more lot size but the location at CV is preferred. I am inferring this purely from the price disparity between CV and Great Park with all floor plan and home sq/ft roughly equal. It could be other intrinsic factors.
 
bones said:
Chairman said:
test said:
Chairman said:
Test,

Do you know what will be going in the space between 4 and 3.
Just above 1?
And the left side? I saw some mention of private parks but nothing official.

Thanks!

Between 3 and 4 are Sextuple culdesacshttp://www.talkirvine.com/index.php/topic,3636.msg61719.html#msg61719

Above 1 are detached condoshttp://www.talkirvine.com/index.php/topic,3636.msg61659.html#msg61659

Sexy! Wow, there are still a lot of homes to be built in CV. With the Great Park homes coming out do you see price pressure for CV Three M communities? You get more lot size but the location at CV is preferred. I am inferring this purely from the price disparity between CV and Great Park with all floor plan and home sq/ft roughly equal. It could be other intrinsic factors.

I disagree with the location being better at CV so that why the price is higher. Prior to PP, TIC had no competition so they can set pricing however the want and guess what, the market has accepted it for the most part. Even the 3rd party builders have little control over pricing as they have to buy the land from TIC and who knows - part of the terms of the land buy may be input from TIC on pricing (I.e. at Arcadia, Sausalito and all the new stuff at PS).

PP is already open.
 
Builders loathe to drop prices. It hurts comps, angers early buyers, and lowers their margins. The usual pattern will occur if CV sales slowdown:

1) increased design center credits
2) lower lender rates, free credits for closing etc...
3) larger broker fees
4) more/upgraded standard features
5) lastly they will drop prices
 
Tyler Durden said:
bones said:
Chairman said:
test said:
Chairman said:
Test,

Do you know what will be going in the space between 4 and 3.
Just above 1?
And the left side? I saw some mention of private parks but nothing official.

Thanks!

Between 3 and 4 are Sextuple culdesacs
http://www.talkirvine.com/index.php/topic,3636.msg61719.html#msg61719

Above 1 are detached condos
http://www.talkirvine.com/index.php/topic,3636.msg61659.html#msg61659

Sexy! Wow, there are still a lot of homes to be built in CV. With the Great Park homes coming out do you see price pressure for CV Three M communities? You get more lot size but the location at CV is preferred. I am inferring this purely from the price disparity between CV and Great Park with all floor plan and home sq/ft roughly equal. It could be other intrinsic factors.

I disagree with the location being better at CV so that why the price is higher. Prior to PP, TIC had no competition so they can set pricing however the want and guess what, the market has accepted it for the most part. Even the 3rd party builders have little control over pricing as they have to buy the land from TIC and who knows - part of the terms of the land buy may be input from TIC on pricing (I.e. at Arcadia, Sausalito and all the new stuff at PS).

This is spot on.

Really?  So there was no price disparity before PP?  Such as between CV and SG and PS?  Location is everything in real estate.

 
I still think there is some location factor going on. The more west the home is (closer to the 405 or the ocean the higher the cost). The PP is on the military site and I think there is a discount factored into that. Just my two cents.
 
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