Villager said:
I don't mean to rain on anyone's parade (cough-BTB-cough), but does anyone else get the sense that these prices are unjustifiably high? High-density, courtyard-style, >2000-sqft detached-condos STARTING in the $1-millions (not including lot-size/view premiums)?? I think I'll pass.
It all comes down to personal preference, but I've never been a fan of Irvine Pacific's product. Pretty much all of their projects have been very cookie-cutter and (dare I say) boring. I don't think I've ever been to an IP neighborhood and been excited about the houses themselves. What's going to sell this neighborhood are the views, but that'll cost you a pretty penny as well, likely to reach the $2-millions before selling out. At that price point, would you want to purchase a home that's been replicated in at least four other communities across Irvine?
Honestly very disappointed by this whole project. TIC had the opportunity to present something new and exciting at Reserve, and blew it. Still, I don't have a shadow of a doubt that this neighborhood will sell well.
Villager said:
Also, I don't know why TIC decided to develop a gated community that they're selling as the pinnacle of luxury living in Irvine, and still decided to include three high-density courtyard-style tracts into the mix (and more to come in site 4 on the map that Inc provided). The neighborhood should have been made up solely of single-family-homes if they envisioned the community being that ritzy. Just my two-cents.
I think folks are missing the point here.
1) First rule of
fight club real estate is: Location, Location, Location. Are we disagreeing that OH3 is a poor location and unjustifiably priced wrong for it?
2) IP has always been known to
recycle tweak their products a little and just add a different ketchup and mustard each time. This time, it's the standard expanded dining room with the revolutionary panoramic sliding glass doors at the living room. At least they are consistent. Why reinvent the wheel? -or- Why fix something that ain't broken?
3) High density courtyard living is good for business because they can pack more sardines in and give those deserving folks at the bottom of the rat race a chance at a shot of drinking the kool-aid. IP knows if you want the kool-aid, get on the waiting list and you'll pay for it in ounces.
Is this bad? I don't think so. New York City is home to over 8 million people with Manhattan at 1.6 million. Manhattan is one of the highest priced RE in the country for apartments, take a look at this picture of what you get there. Talk about "high density". All of a sudden, makes OH3 looks like a SWEET deal.
Here's the "high density" living you get for $1.2M in upper Manhattan. I haven't even gone down to lower midtown Manhattan yet.