Santa Ana City Place Auction

NEW -> Contingent Buyer Assistance Program
Is this the death rattle of the whole artificial mixed housing/shopping?



<a href="http://www.livecityplace.com/park.html ">http://www.livecityplace.com/park.html </a>



<a href="http://www.auctioncityplace.com/">http://www.auctioncityplace.com/</a>
 
It's gotta suck to be one of the owners who bought a few years ago and see the units being auctioned off at much lower prices. I stop by these lofts every now and then (Pinkberry) and it seems to me that they are at least half emplty.
 
a FOAF bought one of the lofts a couple years back, pre-construction. we tried to convince her to back out, but they sold her on an upgraded unit at the same price as her initial purchase. ouch...but she wouldn't listen.
 
[quote author="usctrojanman29" date=1225417180]OC and urban living just don't seem to go well together.</blockquote>


TIC's religious fervor against any street parking and/or any pedestrian traffic may have something to do with that. Though maybe they just do the best job on executing that vision.
 
[quote author="usctrojanman29" date=1225417180]OC and urban living just don't seem to go well together.</blockquote>


There are a few decent OC downtown living environments. Downtown Fullerton and Brea come to mind.



A lot of recent projects where developers tried to force the urban environment didn't come across very well.
 
[quote author="Joe33" date=1225418595][quote author="usctrojanman29" date=1225417180]OC and urban living just don't seem to go well together.</blockquote>


There are a few decent OC downtown living environments. Downtown Fullerton and Brea come to mind.



A lot of recent projects where developers tried to force the urban environment didn't come across very well.</blockquote>


Anaheim comes to mind.
 
If they tried to do a similar concept to the Santa Ana Lofts in Irvine... I would have given it some serious thought.



The biggest problem is that they required you to be the primary resident... whereas I would have just bought it and rented out the living space to the same people who would be running the business downstairs... double dip!
 
Sorry to high jack this thread momentarily to bring you the headline news. Socal79 was robbed in PS. The assailant was Joe33. He demanded Socal's Avatar.
 
[quote author="bkshopr" date=1225458580]Sorry to high jack this thread momentarily to bring you the headline news. Socal79 was robbed in PS. The assailant was Joe33. He demanded Socal's Avatar.</blockquote>


Phew. Thank goodness it was my evil twin, SoCal79, and not me. I missed it by *this much*. I'm keeping an eye out now.



(Odd. My husband's name is Joe.)
 
[quote author="three sheets" date=1225411400]It's gotta suck to be one of the owners who bought a few years ago and see the units being auctioned off at much lower prices. I stop by these lofts every now and then (Pinkberry) and it seems to me that they are at least half emplty.</blockquote>


Half empty seems very optimistic. When you drive around the entire complex in the evening enjoying a Pinkberry as I did a few weeks ago, you discover that this place seems entirely vacant. It's the front curve of two dozen lofts facing MainPlace that is about half empty. The bulk of the complex is behind that row of lofts in a few hundred condos in the "Courtyard" or "Park" style, and those units are just totally empty and vacant. There was not a single light on in any of the units at 8:00 PM on a weeknight, and not a single piece of furniture visible on any balcony or in any of the big drape-less windows.



Just a couple hundred empty units back there.
 
[quote author="tenmagnet" date=1225418852][quote author="Joe33" date=1225418595][quote author="usctrojanman29" date=1225417180]OC and urban living just don't seem to go well together.</blockquote>


There are a few decent OC downtown living environments. Downtown Fullerton and Brea come to mind.



A lot of recent projects where developers tried to force the urban environment didn't come across very well.</blockquote>


Anaheim comes to mind.</blockquote>


What, you mean "the hole" of an empty lot (supposed to be A-town?) and the half-contructed Anavia?
 
[quote author="bkshopr" date=1225458580]Sorry to high jack this thread momentarily to bring you the headline news. Socal79 was robbed in PS. The assailant was Joe33. He demanded Socal's Avatar.</blockquote>


Now that I have taken Socal79's Schrute Buck, I can add it to the 3 Schrute Bucks that my house is now worth and have 4 Schrute Bucks. Unfortunately I owe several hundred thousand Schrute Bucks to the bank.
 
Auction is tomorrow/in the morning. Should we expect a nice little PR article in the OC Register in the next few days saying how successful it was just like those Stadium Lofts? :)
 
450 for a loft sounds closer to reasonable. Similar price to Santiago St. Lofts.



I suspect now that they went to auction, the price will not go lower.



Why did they auction, it seems like a great product, when I toured them.
 
I was curious, so I found this:



http://www.pontevista.blogspot.com/



<blockquote> City Place Santa Ana Auction Update, (Such As It Is)

City Place Santa Ana is currently Bob's largest attempt at developing residential units. The Development has combined business/residential units as well as strictly residential units for sale.



On November 9, a private Auction Company held an auction for 140 selected units.



City Place personnel are not giving out the number of units that actually were purchased yesterday.



I was told however, that a number of units at that Development will be offered with "special" pricing, according to the person I spoke to, after 2:00 PM on Tuesday November 11.



Below is the list of units and their original pricing and their reserve pricing.



The Auction was not a forced one and had nothing to do with foreclosures by financial institutions.



The Homeowners Association dues were estimated to be between $160 to $220 per month.</blockquote>


<img src="http://4.bp.blogspot.com/_73hceumPgk8/SRjS-MX50UI/AAAAAAAAAug/YUnQZS_X3RI/s1600/Auction+prices+2.JPG" alt="" />
 
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