Opening of new-homes community Esencia, east of San Juan Capistrano, draws 10,000 people
Sept. 22, 2015 Updated 11:39 a.m.
By JEFF COLLINS / STAFF WRITER
Orange County?s second big new-home opening this year drew more than 10,000 viewers Sunday, land developer Rancho Mission Viejo reported.
The first 840 homes in the 2,800-unit Esencia development, located off Ortega Highway east of San Juan Capistrano, went on sale last weekend, offering 42 model homes representing 12 product types by seven builders.
Esencia is the second phase of the final 14,000 homes planned for the historic 312-square-mile South County cattle ranch on which such communities as Mission Viejo, Rancho Santa Margarita and Ladera Ranch were built. The first project, Sendero, has just a few homes that have yet to close escrow.
Last month, about 25,000 people turned out for the opening of the 1,029-home Beacon Park project, the second development to debut on former El Toro Marine base land surrounding the Orange County Great Park in north Irvine.
Together, the two projects may help boost new home sales numbers that had been sagging since November, even as overall home sales have been climbing.
New home sales are down nearly 22 percent in Orange County year-to-date, CoreLogic figures show. Building executives and housing consultants believe that this year?s sales decline may be due to a lack of product to meet demand.
Starting prices for Esencia homes run from just over $400,000 to $1.1 million. By comparison, starting prices at the more centrally located Beacon Park range from just over $600,000 to $1.4 million.
Sept. 22, 2015 Updated 11:39 a.m.
By JEFF COLLINS / STAFF WRITER
Orange County?s second big new-home opening this year drew more than 10,000 viewers Sunday, land developer Rancho Mission Viejo reported.
The first 840 homes in the 2,800-unit Esencia development, located off Ortega Highway east of San Juan Capistrano, went on sale last weekend, offering 42 model homes representing 12 product types by seven builders.
Esencia is the second phase of the final 14,000 homes planned for the historic 312-square-mile South County cattle ranch on which such communities as Mission Viejo, Rancho Santa Margarita and Ladera Ranch were built. The first project, Sendero, has just a few homes that have yet to close escrow.
Last month, about 25,000 people turned out for the opening of the 1,029-home Beacon Park project, the second development to debut on former El Toro Marine base land surrounding the Orange County Great Park in north Irvine.
Together, the two projects may help boost new home sales numbers that had been sagging since November, even as overall home sales have been climbing.
New home sales are down nearly 22 percent in Orange County year-to-date, CoreLogic figures show. Building executives and housing consultants believe that this year?s sales decline may be due to a lack of product to meet demand.
Starting prices for Esencia homes run from just over $400,000 to $1.1 million. By comparison, starting prices at the more centrally located Beacon Park range from just over $600,000 to $1.4 million.
