The Lennox

NEW -> Contingent Buyer Assistance Program
Let's see. Pay "Irvine prices" but get school zoned for Santa Ana. Yeah, I think they should just bull doze it now.
 
Starlight East said:
IndieDev said:
Let's see. Pay "Irvine prices" but get school zoned for Santa Ana. Yeah, I think they should just bull doze it now.
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The urban hipsters this development is intended for don't care about school districts. They don't have kids or send them to private schools.
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Urban Hipsters don't come to Irvine, ever. That's probably one of the demographics Irvine will never, ever, ever, cater to. Anyone who builds a multi-million dollar development based on that premise in Irvine, should crash and burn, like these guys.
 
IndieDev said:
Urban Hipsters don't come to Irvine, ever. That's probably one of the demographics Irvine will never, ever, ever, cater to. Anyone who builds a multi-million dollar development based on that premise in Irvine, should crash and burn, like these guys.
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Urban mixed use sustainable smart growth is the future of OC.  Anaheim has the Platinum Triangle.  Tustin has Tustin Legacy.  And Irvine has the IBC.  Other cities will eventually follow their lead.
 
test said:
IndieDev said:
Urban Hipsters don't come to Irvine, ever. That's probably one of the demographics Irvine will never, ever, ever, cater to. Anyone who builds a multi-million dollar development based on that premise in Irvine, should crash and burn, like these guys.
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Other cities will eventually follow their lead.
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Only if investors want to lose lots and lots of money.
 
Starlight East said:
IndieDev said:
Urban Hipsters don't come to Irvine, ever.
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They are already here. Some of time are renting close to the Spectrum, some are filling up the "North Korean Towers". 
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Those towers have some of the highest vacancy rates in Orange County, let alone Irvine. If there are hipsters in there, the $1000 hoa, and extra assessments will drive them off fairly soon.
 
$400k of "wishfull thinking". Comparable sales at that asking price will be next to impossible to find. Closest sale is unit 105 - 470 SF smaller, but closed at $723,000 on 9/16/14.

In the NK Towers this unit sold at a similar price

https://www.redfin.com/CA/Irvine/3141-Michelson-DR-92612/unit-1704/home/7211415

But this unit ain't that unit in Lennox

It will be delisted soon, or sold to someone who really doesn't have a need to check the facts before spending that kind of dough.
 
Disaster.  Plain and simple.  They'll change the unbuilt units into apartments and walk away.  Happened in Columbus Square.
 
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