Orchard Hills Neighborhood 3

[Villager]

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.

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.

No, I'm not arguing that OH3 is a poor location. In fact, I think it's one of the best locations Irvine has to offer. I'm arguing that the product that IP is offering does not align with their prices. At this $/sqft, I would have expected a more exciting, architecturally unique product that would stand out against the monotony that they've created by replicating these floorplans from community-to-community. I'm not against courtyard style homes by any means; but for a luxury community, IP could have designed/arranged the homes in a way that gives them a more high-end feel, like they did at La Vita at the Groves, or Crawford at Greenwood.

I also love how you try to draw comparisons between NYC real estate and Irvine real estate. The properties in Manhattan are high density because it's in an urban area. The goal of housing in urban areas is to be as efficient as possible (i.e. high-rises); 432 Park Ave stacks 103 high-end units on less than 9,000sqft of land in Manhattan. This kind of high-density real estate is a product of the lack of available land in urban areas like New York. Irvine does not lack an abundance of land like Manhattan. Therefore, when a luxury community like Reserve is being developed (with a disposable amount of land at hand), there really is no excuse to pack these units in like sardines. Truly, if they had offered homes that were on the same caliber as some of the home designs in the Groves, the $/sqft would have been more justified.

 

[lnc]

No, I'm not arguing that OH3 is a poor location. In fact, I think it's one of the best locations Irvine has to offer. I'm arguing that the product that IP is offering does not align with their prices. At this $/sqft, I would have expected a more exciting, architecturally unique product that would stand out against the monotony that they've created by replicating these floorplans from community-to-community.

Truly, if they had offered homes that were on the same caliber as some of the home designs in the Groves, the $/sqft would have been more justified.

Agree with you on this.

It is still a very nice neighborhood but it seem the project is run by an accountant rather than an architectural visionary.

Also there's lack of incentive for TIC to do something drastically different to sell these homes.  They got the best location, they got the school, they offer lower MR and they got the floor plans from the past best seller,  they don't really need to do anything different to get these house sold. 

 

[iacrenter]

As much as I'd like people to not buy these sardine products because of TIC greed, unforunately BTB is right. No matter what we think or say, TIC will be printing money with this community. I made similar comments and analysis after seeing Laguna Altura--overpriced, same boring TIC floor plans, small lots, reduced number of parks from original design etc... At the end of the day, LA has had significant appreciation since build out. Short of a major natural disaster (wildfire, earthquake etc...) or 2007 recession, I don't see how this community will not sell out and appreciate.

 

[DrTravel]

Agree with you on this.

It is still a very nice neighborhood but it seem the project is run by an accountant rather than an architectural visionary.

Also there's lack of incentive for TIC to do something drastically different to sell these homes.  They got the best location, they got the school, they offer lower MR and they got the floor plans from the past best seller,  they don't really need to do anything different to get these house sold.

I agree with you on these points - see we can all just get along!

From an architectural design viewpoint I was always critical of IP designs - dig up a few past posts. But I wanted an "affordable" new SFR in Irvine so I was kind of stuck going with them. I know their plans were drawn by an architecture firm but somehow they looked like a building "designer" actually created the layouts. I keep reading about the fabulous views but in the past, their civil engineer never maximized the potential views at Orchard Hills 2 so what makes everybody think they will do it differently this time? Did anyone noticed that in their promo video they included a fly over through Strada to show the fabulous new homes!? Except for a select few this community will look no different than other IP neighborhoods. The gated entrance will be nice! I have no doubt they will sell. Nothing compares to that new home smell in Irvine.

I would be most concerned about resale. At this price point potential buyers have a lot of luxury properties to choose from and they are far pickier than new home buyers - just ask USCTrojan. Do these layouts cry "luxury"? After the newness wears off, how will they compete with other communities in dare I say it? "Better locations?" Maybe not even in Irvine (blasphemy!).

What effect will this have on new homes in the Groves? Those builders must be changing their underwear as we speak!

Saw this sign at Portola Hills Elementary school:
 

 

[acf]

When compared to older irvine homes, these new homes with open floor plans are an improvement though. Not even going back that far using Woodbury as an example, the new layouts are much better.

 

[iacrenter]

Once new home construction ends it will be about location:Homes South of the 405 will carry a premium (QH, HC, TR etc...), homes with a view/elevation will carry a premium (OH, QH, TRidge etc...), and homes with guard gates (OH-1/3/4, HC, LA etc...). GP is another area of potential premium if the masterplan is well executed.

 

[jyeh74]

So who all on the forum is seriously considering buying one of these homes in OH3? 

 

[lnc]

At this $/sqft, I would have expected a more exciting, architecturally unique product that would stand out against the monotony that they've created by replicating these floorplans from community-to-community. 

Speaking of something architecturally unique and exciting, check out this award winning home design by Tripoint Homes near Las Vegas and this is something they should build here.

TriPoint did 2 of these so call "responsive home" and the smaller one is the one I really like, especially the exterior.  It's only around 2500 s.f., pretty open, high ceiling, lot of good design futures and it's good size for high price and land scarce Irvine.
http://www.tripointegroup.com/responsive-home/

https://youtu.be/pEUMUFY9_4Q

 

[Burn That Belly]

x

 

[aquabliss]

Well there's a slap in the face to The Groves residents.

 

[eyephone]

On behalf of the Irvine Company, they would like to inform you that by purchasing in OH3, your kids shall have the privilege of attending one of the best ranked schools in the nation.

Did you make that flyer or is that from Irvine Company?

 

[Burn That Belly]

x

 

[Villager]

On behalf of the Irvine Company, they would like to inform you that by purchasing in OH3, your kids shall have the privilege of attending one of the best ranked schools in the nation.

Did you make that flyer or is that from Irvine Company?

TIC emailed it out this afternoon. This isn't quite a "slap in the face" as it seems to be. It's just standard practice to advertise the schools that a new community is assigned to. TIC sent out a nearly identical email about the schools assigned to the Groves in May 2015.

 

[Burn That Belly]

x

 

[irvinebullhousing]

Now that's what I call some serious marketing. 

 

[eyephone]

Put and asterisk. Great schools. But it's very competitive so your child might not go to the college of choice.

 

[Ready2Downsize]

Oh and there is the famous (infamous tree)!

There was soooooo much money sloshing around when NHS was built the school couldn't figure out how to spend it all  (use it or lose it)  so they bought a ridiculous priced large tree (Oak I think but might be wrong on the type) and had it moved there.

Lo and Behold it promptly died and they had to replace it with a more modestly priced tree.

Wasted a lot of money on a bunch of other stuff too (instruments from African tribes), dark room which quickly became a broom closet come to mind.

 

[jmoney74]

Lol

BTB this is good stuff.

 

[Villager]

Wow BTB, you don't pay your secretary the big bucks for nothing! If we're playing this game, let me take a crack at it:

?  THE RESERVE AT ORCHARD HILLS  ?

For those millionaires who don't mind living in the Toyota Corolla of home designs AND close enough to your neighbors to hear a toilet flush from three doors down. In return, your children will be PRIVILEGED to experience being waitlisted to Cal State Fullerton with a 4.2 high school GPA. Truly, an elevated lifestyle.

 

[eyephone]

Wow BTB, you don't pay your secretary the big bucks for nothing! If we're playing this game, let me take a crack at it:

?  THE RESERVE AT ORCHARD HILLS  ?

For those millionaires who don't mind living in the Toyota Corolla of home designs AND close enough to your neighbors to hear a toilet flush from three doors down. In return, your children will be PRIVILEGED to experience being waitlisted to Cal State Fullerton with a 4.2 high school GPA. Truly, an elevated lifestyle.

nice one