February 2014 Allen Matkins Real Estate Development Law Update February 2014
Nov 28, 2014
February 2014
Allen Matkins Real Estate
Development Law Update February 2014
California
Jobs Above Historical Averages
Orange County
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Permits Below Peak
Orange County
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Jobs Outpace Permit Activity
Orange County
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Sales Activity Tapers
Orange County
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Affordability Drops…but still good
Orange County
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Orange County
Map of New Home Projects in OC
Orange County
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1
10
9
8
7 6 5 4
2
3 3
11
In addition, Irvine Company has
additional ~6,500 unit across the
Irvine Ranch that could enter the
market between 2015-2016
NumberProject
Name
Builder/
Developer/
Owner
Number
of Units
Expected
Market
Entry
1 Orchard Hills Irvine Company 615 1Q2014
2 Tustin Legacy Standard Pacific Homes 238 3Q2014
3 Pavillion Park FivePoints 726 ACTIVE
4 District 1 FivePoints 1,006 1Q2015
5 Baker Ranch Shea Homes/Toll Brothers 1,780 2Q2014
6 Towne Center Trumark/Brookfield 224 4Q2013
7 Portola Center Unknown 873 4Q2014
8 RMV PA 2 Rancho Mission Viejo 862 2Q2015
9 Sendero Rancho Mission Viejo 941 ACTIVE
10 Pacific Point Lehman Holdings 318 4Q2015
11 Marblehead Lehman Holdings 308 2Q2015
Total 7,891
Job Above Historical Averages
Orange County
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Issuances Trending Upward
Orange County
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Job Growth Outperform Issuances
Orange County
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FHA Loan Limit Ceiling Drops
Orange County
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New Home Sales Near FHA Limits
Orange County
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New Home Prices Down But, there are more affordable options
Orange County
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Affordability Climbs
Orange County
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Resale Market up 22%
Orange County
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Foreclosures a Non-Issue
Orange County
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Foreclosures a Non-Issue
Orange County
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