New communities in Portola Springs

NEW -> Contingent Buyer Assistance Program
I haven't seen any press releases from The Irvine Company/Irvine Pacific, but my wife saw something on Mina's (Signature One Realty) YouTube Community page about IP stop being a builder in the near future. This is what's posted on her page, (I used Google Translate):

"If you missed Mina’s live broadcast this afternoon, then you may have missed the latest big news about Irvine Pacific as the largest builder in Irvine: Irvine Company will close existing new houses and new projects within four months, and then only temporarily develop dealers (not builders). All major new projects on sale are about to be sold out, and the new projects in the previous phases will complete the land that has already started construction, and will stop building new projects after that. As for the upcoming Olivewood and Arbor, other builders will take over. As a subsidiary company of Irvine Company, Sierra may also have an extension to extend the off-plan housing. Huaguoshan village 4 (the fourth community, OH4), which has been planned for several years, will also be transferred to other builders to replace Irvine Company for completion. Friends who are looking forward to these projects don’t have to worry, more builders will bring more house types to choose from, and the specific development cycle and successor builders are still unclear! If you like Irvine Company's house type and quality assurance very much, you should hurry up and look at the existing plots!"

I don't know where she got the information from, but if it's correct, then Olivewood and Arbor will be taken over by other builders. OH4 will definitely be taken over by other builders as well.

Not really sure what is being said about Sierra. It's being built by Cal Pac. Is Sierra extension going to another builder as well?

But our main concern is Cielo. Cielo and Azul have already been built by IP. Are they going to finish up the community? Are they going to hand off to another builder in 4 months? My wife was bummed out when she saw this. I've searched everywhere, but haven't seen anything. Not sure if her information is reliable or not.
 
New builders is a huge win for the community. Tired of seeing floor plans and homes being an exact copy and paste and throwing it in diff communities.

Question now is who will want to work with IP? IP takes a cut of the builders profits and builders have no say in pricing.
 
CalBears96 said:
I haven't seen any press releases from The Irvine Company/Irvine Pacific, but my wife saw something on Mina's (Signature One Realty) YouTube Community page about IP stop being a builder in the near future. This is what's posted on her page, (I used Google Translate):

"If you missed Mina’s live broadcast this afternoon, then you may have missed the latest big news about Irvine Pacific as the largest builder in Irvine: Irvine Company will close existing new houses and new projects within four months, and then only temporarily develop dealers (not builders). All major new projects on sale are about to be sold out, and the new projects in the previous phases will complete the land that has already started construction, and will stop building new projects after that. As for the upcoming Olivewood and Arbor, other builders will take over. As a subsidiary company of Irvine Company, Sierra may also have an extension to extend the off-plan housing. Huaguoshan village 4 (the fourth community, OH4), which has been planned for several years, will also be transferred to other builders to replace Irvine Company for completion. Friends who are looking forward to these projects don’t have to worry, more builders will bring more house types to choose from, and the specific development cycle and successor builders are still unclear! If you like Irvine Company's house type and quality assurance very much, you should hurry up and look at the existing plots!"

I don't know where she got the information from, but if it's correct, then Olivewood and Arbor will be taken over by other builders. OH4 will definitely be taken over by other builders as well.

Not really sure what is being said about Sierra. It's being built by Cal Pac. Is Sierra extension going to another builder as well?

But our main concern is Cielo. Cielo and Azul have already been built by IP. Are they going to finish up the community? Are they going to hand off to another builder in 4 months? My wife was bummed out when she saw this. I've searched everywhere, but haven't seen anything. Not sure if her information is reliable or not.
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This is true. IP will not finish up existing communities at Portola. Each community has a different story. IP will finish Bluffs, Highland and Hillside. IP will sell one to two more phases at Cielo, Azul, Fiore depends on where they are at each street. Rest will be transfer to new builder alone with Arbor and Olivewood. New builder can decide if they want to continue to build same model or new floor plan. IP will finish up Fresco at Eastwood, Azul at Grove, Como at Reserve and Ravello at Reserve. Fresco at Reserve and Ravello at Grove will go to new builder with new floor plan. OH4 will be entirely built by new builder. This is the latest update, of course any plan can change. If you know any of the sales people, stop by and say goodbye to them. For some of them this week is their last week to work in the office.
 
msuum said:
This is true. IP will not finish up existing communities at Portola. Each community has a different story. IP will finish Bluffs, Highland and Hillside. IP will sell one to two more phases at Cielo, Azul, Fiore depends on where they are at each street. Rest will be transfer to new builder alone with Arbor and Olivewood. New builder can decide if they want to continue to build same model or new floor plan. IP will finish up Fresco at Eastwood, Azul at Grove, Como at Reserve and Ravello at Reserve. Fresco at Reserve and Ravello at Grove will go to new builder with new floor plan. OH4 will be entirely built by new builder. This is the latest update, of course any plan can change. If you know any of the sales people, stop by and say goodbye to them. For some of them this week is their last week to work in the office.
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Where did you get the update from? I couldn't find it anywhere.
 
msuum said:
This is true. IP will not finish up existing communities at Portola. Each community has a different story. IP will finish Bluffs, Highland and Hillside. IP will sell one to two more phases at Cielo, Azul, Fiore depends on where they are at each street. Rest will be transfer to new builder alone with Arbor and Olivewood. New builder can decide if they want to continue to build same model or new floor plan. IP will finish up Fresco at Eastwood, Azul at Grove, Como at Reserve and Ravello at Reserve. Fresco at Reserve and Ravello at Grove will go to new builder with new floor plan. OH4 will be entirely built by new builder. This is the latest update, of course any plan can change. If you know any of the sales people, stop by and say goodbye to them. For some of them this week is their last week to work in the office.
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I wonder what would IP even be selling anymore if not at Portola and Orchard Hills?
 
reldiber said:
I wonder what would IP even be selling anymore if not at Portola and Orchard Hills?
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Seems like they either completely stop building homes or they will just build outside of Irvine. They do have a project in Orange. Not sure what they're going to do with that.
 
This is all the information I got from Cielo sales:

"All we know is that the Irvine Company has decided to change their focus(Business plan) from new home builder back to focusing on being the Master Developer.
We do not have any further information.

We hope in the coming weeks we will know who the new Owners will be and that information will be shared."

So right now, sales person doesn't know who will be taking over Portola yet. Not sure if it's going to be one builder or several builders for different communities. It's really frustrating for us.
 
My prayers have been answered!!!! We might finally get back the villages of Irvine's past. As I've said before, I have no issue with IP as a builder, it was the monotony and monopoly that was annoying me. The Reserve in OH and newer villages in PS had the potential to be like past villages/phases with more variety, but TIC wasn't allowing it. Maybe we will get some showstopping homes in OH4 now, that plot of land needs homes more similar to Vicara in QH.
 
Is this for real or a rumor? Will Irvine Pacific still remain in business for the warranties on the homes already closed once they have completed construction and sold all of their remaining homes under construction?
 
This is sad knowing most employees getting layoff. I have had good relationships with IP staffs who have helped me with everything. I was hoping OH4 would be built by IP. I like their home quality and customer service.
 
Danimal said:
This is sad knowing most employees getting layoff. I have had good relationships with IP staffs who have helped me with everything. I was hoping OH4 would be built by IP. I like their home quality and customer service.
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I'm sure they'll be allocated to another part of the business.
 
Yoda said:
Is this for real or a rumor? Will Irvine Pacific still remain in business for the warranties on the homes already closed once they have completed construction and sold all of their remaining homes under construction?
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It's real. Like I posted earlier, it was confirmed by Cielo sales person I got in touch with after hearing about it.

I'm sure they'll keep customer service people for the warranties, not to mention the warranties are covered by the vendors anyway. Customer service pretty much just pushes the vendors to come fix any issues.
 
Danimal said:
This is sad knowing most employees getting layoff. I have had good relationships with IP staffs who have helped me with everything. I was hoping OH4 would be built by IP. I like their home quality and customer service.
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Yeah, my wife is really sad that we won't be able to buy Cielo, even if another builder keeps the same floorplan. She really likes IP's home quality and customer service.
 
CalBears96 said:
Yeah, my wife is really sad that we won't be able to buy Cielo, even if another builder keeps the same floorplan. She really likes IP's home quality and customer service.
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Hmmm I wonder who would take Cielo over. I could see CalPac potentially taking some of their projects since they were basically the IP of Irvine back in the day.
 
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