The Meadows, Lake Forest by Toll Brothers

[CalBears96]

Love or hate the Irvine Company, but they never miss in terms of schools.

It is in their interest that they don't miss in terms of schools. TIC owns so much land in Irvine that they need to make sure that IUSD's reputation remains great and that there are enough schools. It's a long game for them.

 

[irvinehomeowner]

TIC will build schools before retail.

 

[anteaterMD]

Love or hate the Irvine Company, but they never miss in terms of schools.

This was the bet Donald Bren made and it paid off handsomely. Can’t replace good education.

 

[anteaterMD]

Are you a resident of The Meadows? If so, do you have kids? I'm wondering how people feel about the lack of a school from a personal perspective. I don't know anyone who lives there so I haven't had a chance to get a real feel for that. From an outsider looking in, it seems like a school was necessary, but maybe most residents don't feel that way. I know I referenced something back in this thread about upset residents, but now that more people moved in I'm curious about the general consensus.

Yup. Will have kids soon. School is nice but not necessary. There are pros/cons to every situation and a lot of adjustments can be made in between. Life isn’t so bad after all, is it?

 

[ratchet_resident]

It wasn't just residents in Meadows that were hoping for the school a ton of people in Baker Ranch were also holding their breath for this school that never had a chance....

I'm genuinely curious as to where these meadows kids are going to enroll. Isn't Foothill Ranch Elementary stuffed to the brim.. with all the foothill neighborhoods + baker ranch, which are all massive communities. The SVUSD website has no schools assigned for the meadows yet either. Sad

 

[ThirtySomethingWEquity]

I'm genuinely curious as to where these meadows kids are going to enroll. Isn't Foothill Ranch Elementary stuffed to the brim.. with all the foothill neighborhoods + baker ranch, which are all massive communities. The SVUSD website has no schools assigned for the meadows yet either. Sad

With the money I saved living in Lake Forest vs. Irvine, I'll have a private chauffeur drive my son to a private school.

 

[irvinehomeowner]

With the money I saved living in Lake Forest vs. Irvine, I'll have a private chauffeur drive my son to a private school.

Are you really saving that much money? Back when these first went up for sale, what was the delta?

 

[usctrojancpa]

If you build it (schools), they (buyers) will come.

 

[usctrojancpa]

With the money I saved living in Lake Forest vs. Irvine, I'll have a private chauffeur drive my son to a private school.

Come to my Baker Ranch open house this weekend.

 

[anteaterMD]

Are you really saving that much money? Back when these first went up for sale, what was the delta?

Delta is +$700k from phase 1

EDIT: can’t forget savings from lack of MR too (low 5 figures per year for new builds in Irvine I think?)

 

[sleepy5136]

Are you really saving that much money? Back when these first went up for sale, what was the delta?

Amara was selling in the low 1m early on and excluding view lots the maximum price was probably 1.5m?
Teresina started at 1.2-1.3m and ended at 1.5-1.6m? excluding view lots

Amara in Irvine would probably go for 2m+. Teresina homes would easily go for 2.7-3m. You can do the math on the savings. Save & invest the difference. Compounding interest is powerful y'all. Don't forget the MR as well. Paying that kind of money for a public school is insane. I rather take my kid private in that case.

 

[CalBears96]

Delta is +$700k from phase 1

EDIT: can’t forget savings from lack of MR too (low 5 figures per year for new builds in Irvine I think?)

Did you seriously say that? MR for all Irvine new builds other than GP is less than $4k per year. And my brother-in-law who bought at Portola Hills said that LF isn't without MR. You still pay around $1k a year for CFD.

 

[sleepy5136]

If you build it (schools), they (buyers) will come.

we're in a population decline as we speak.

 

[anteaterMD]

Did you seriously say that? MR for all Irvine new builds other than GP is less than $4k per year. And my brother-in-law who bought at Portola Hills said that LF isn't without MR. You still pay around $1k a year for CFD.

I could be wrong; YMMV as it depends on the lot / neighborhood. This was the calculation for a $2 million home at GP last I checked.

 

[usctrojancpa]

we're in a population decline as we speak.

Overall yes but buyers love new homes so any area where new homes are being built will have an influx of people which increases the need for a new school.

 

[usctrojancpa]

Amara was selling in the low 1m early on and excluding view lots the maximum price was probably 1.5m?
Teresina started at 1.2-1.3m and ended at 1.5-1.6m? excluding view lots

Amara in Irvine would probably go for 2m+. Teresina homes would easily go for 2.7-3m. You can do the math on the savings. Save & invest the difference. Compounding interest is powerful y'all. Don't forget the MR as well. Paying that kind of money for a public school is insane. I rather take my kid private in that case.

I sold an Amara Plan 2 at the beginning of the year for $1.638m so I'd say it'd the range today is $1.6m-$1.7m for non view lots.

 

[irvinehomeowner]

I don’t remember a $700k delta but I guess I wasn’t really looking.

I guess I would have settled for a $200k difference for a smaller home in Irvine.

 

[CalBears96]

I could be wrong; YMMV as it depends on the lot / neighborhood. This was the calculation for a $2 million home at GP last I checked.

Yes, you are wrong. Like I said, ALL new builds in Irvine EXCEPT for GP have a fixed MR at less than $4k, which of course still has an annual increase. You checked GP, which I said was the exception. Basically, all TIC tracts have a fixed much lower MR while the Five Point tracts have a variable MR, starting from $7k up to probably $20k, depending on the size of your home. A lot of large Altair homes probably have MR of $20k.

 

[sleepy5136]

I sold an Amara Plan 2 at the beginning of the year for $1.638m so I'd say it'd the range today is $1.6m-$1.7m for non view lots.

I was saying Amara homes in Irvine would be 2m+. Without lot premiums

 

[ratchet_resident]

With the money I saved living in Lake Forest vs. Irvine, I'll have a private chauffeur drive my son to a private school.

there's always a more expensive city. your point is?