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HOUSING STARTS : Lusk Sets Fall Opening

June 04, 1989

A fall opening is scheduled for The Summit at Highland Light, a $31.2-million, 54-unit single-family project by the Lusk Co. in Lusk's Marblehead master-planned community in San Clemente.

New England-style architecture will be featured in the four-bedroom houses, reminiscent of Marblehead, Mass., for which the more than 1,000-acre Marblehead community is named. The Summit is one of three developments in the gate-guarded Highland Light community.

Houses will range in size from 2,689 to 3,397 square feet and will be priced from the low $500,000s to the low $700,000s, according to a spokesman for the Newport Beach-based firm. Lots will average 8,000 square feet.

Site for 126 New Houses

Newport Beach-based Costain Homes is continuing its land-acquisition program. The company announced last week that it has purchased a 26.3-acre parcel inside the new community of Silverhawk in Rancho California.

Costain plans to build 126 single-family homes on the site, near the intersection of Winchester and Murrietta Hot Springs roads. Construction will begin this summer and models are expected to open next January.

Home prices in the planned project have not been set. Earlier this year, Costain announced it had purchased 97 acres in Victorville to build a 355-home tract and another large parcel in Riverside County for a golf-oriented community aimed at people 55 and older.

Construction Begun

The Buie Corp. has begun construction of 175 Mediterranean-style single-family houses in Corona Ranch, a 712-acre planned community on McKinley Road about a mile north of California 91 in Corona.

The tract is called Montea at the Corona Ranch. Homes will range from 2,066 to 2,421 square feet and have three and four bedrooms.

Models will open late next month, and prices are expected to range from about $210,000 to about $250,000 when sales begin in late July.

Corona Ranch, a joint-venture of Buie Corp. and a subsidiary of Home Federal Savings & Loan, will provide more than 3,000 single-family homes, apartments and estate lots when it is completed. It will also have an on-site elementary school, a neighborhood commercial center and several acres of parks and other open space.

Oceanside Project

Brennan Katkov Development Co., San Diego, will develop its 75-lot Loma Del Rio Cassita single-family development on 81 acres in Oceanside that it purchased from Sunland Housing Group.

Grading is under way, with the first phase of four- and five-bedroom, 2,300-2,850-square-foot houses expected to be ready in October, according to Ure Kretowicz of Brennan Katkov. His firm paid $2,134,438 for the parcel in northeast Oceanside.

Rental Condominiums

Ground has been broken on Canyon Ranch, a luxury condominium apartment development located at 2475 Del Mar Way in Corona, a project of Fairfield Properties Inc., a San Diego-based real estate developer.

Canyon Ranch will have 296 one- and two-bedroom rental condominiums ranging from 650 to 1,000 square feet and will include picnic areas and carwash facilities. Monthly rents are expected to range from $625 to $950.

Site Preparation

Site preparation is under way for the first two residential neighborhoods, Sonrisa and Montesol, planned at the master-planned $1-billion Rancho Del Rey development in south San Diego County.

The 1,600-acre mixed-use community, is located north of East H Street, between Interstate 805 and Otay Lakes Road in central Chula Vista.

Sonrisa, with 77 single-family homes, will be on the east and Motesol, with 125 larger homes, on the west of Rancho del Rey Parkway and south of Ridgeback Road in the northeastern portion of Rancho del Rey.

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