D/D Development Co. of Brea will build 30 estate homes on half-acre and acre equestrian lots on a 30-acre parcel it purchased from the Orange Unified School District for just under $4.9 million.
The single-family homes will be built in the single-level California style, with circular drives leading to three- or four-car garages. Interior space will average 4,000 square feet. The parcel is located on Santago Canyon Road at Windes Drive and was to be a junior high school site. The school district changed its plans after patterns of growth shifted.
The developer will encircle the property with an equestrian trail and improve Santiago Canyon Road and Windes Drive.
Murrieta Land Bought
Watt Homes of San Diego has purchased 67 acres of residential land in the master-planned community of California Oaks in the Murrieta area of Riverside County. The property was sold by Crawford Enterprises Inc. for $10.5 million and Grubb & Ellis represented both parties.
The developer plans to build 296 single-family homes on 5,000 square-foot lots on the parcel on California Oaks Road.
La Quinta Project
Williams Development Corp. has purchased 20 acres of residential land in La Quinta, next to to Palm Desert in Riverside County. The developer plans to build 68 detached single-family homes in the first two phases and a total of 133 homes at Cactus Flower, which opened last spring.
The three- and four-bedroom homes on lots of more than 8,000 square feet are priced from $139,900.
San Diego County
Lyon Communities Inc. has begun construction on 1,500 acres at Provencal at Carmel Mountain Ranch, about 17 miles northeast of San Diego in an unincorporated section of San Diego County.
The 162 condominiums will have up to 1,642 square feet of interior living space in one- and two-story floor plans. The project is designed by TMA/Flynn Architects Inc.
The units are to be priced from the mid-$100,000s.
Three Orange County builders, the Pennhill Co., the Lusk Co. and Covington Technologies have purchased 2,100 acres from the William Lyon Co., master developer of Victoria, a master-planned community in Rancho Cucamonga.
The parcel is situated in Victoria Vineyards South, one of the villages in Victoria.
Pennhill plans to build 129 single-family homes. Lusk plans to build 146 single-family homes and Covington Technologies plans to build 200 single-family homes.
Prices will range from the mid-$150,000s to the low $500,000s.
Palm Desert Property
Ironwood West, a 300-acre parcel of residential land in Palm Desert, has been purchased by James Hayhoe, a Palm Desert-based developer. A total of 450 detached luxury homes and an 18-hole golf course are to be built on the site.
Silver Spur Associates, a partnership of General Electric Investment Corp. of Stamford, Conn., and Pitcairn Financial Management Group of Jenkintown, Pa., sold the parcel for $13.5 million.
Homes in Fontana
The Lusk Co. will build a $22-million single-family home project on 27.5 acres in the master-planned community of the Village of Heritage in Fontana.
The 133 move-up homes will range in size from 1,753 to 2,086 square feet on lots sized at a minimum of 8,000 square feet.
Long Beach Project
Condominiums with ocean or city views will be built at the corner of 4th Street and Alamitos Boulevard in downtown Long Beach.
The $25-million project is being designed by Morris/Deasy/Partners of Long Beach. The developer is M/R/L Partners of Rancho Palos Verdes.
The 200,000-square-foot building will have 116 units and occupy one city block. Each unit will range in size from 700 to 1,200 square feet with one or two bedrooms and sell for an average price of $200,000.
A hotel-like covered entrance will lead into the two-story lobby. More than 5,700 square feet of small retail shops serving tenants and the public will be built on the ground level facing 4th Street.
Shadow Hills Villas
Villa Pacific has begun construction on 166 homes in Shadow Hills Villas, a 36-acre site in Indio.
The three to five-bedroom single-family homes are priced from the mid-$90,000s and range in size from 1,233 to 2,328 square feet.