Real Estate Round Up

March 2, 2000

March 9, 2000

March 16, 2000

Real Estate Roundup

Continental Homes San Diego, a unit of D.R. Horton Inc., reports it closed escrow on 556 homes in San Diego and Riverside counties last year, exceeding the previous record by more than 200 homes.

Carlsbad-based Continental, headed by division president Greg Hastings, is the master developer and builder of eight neighborhoods totaling 825 homes in the 690-acre Rancho Carrillo development in Carlsbad.

The company is also building 309 homes at Moonlight Ridge in Riverside, 113 homes at

Grizzly Ridge in Murrieta, 156 homes in Vistara in Temecula, and 61 homes in Creekside Estates at Eastlake Trails in Chula Vista.

"The year 2000 looks just as promising," Hastings said. "We have already amassed 60 sales so far this year. And we will open eight new single-family residential projects during 2000: four in Rancho Carrillo, plus new communities in Carmel Valley in San Diego, and Temecula, Riverside and Murrieta.

Continental was established in 1991 and last year merged with D.R. Horton to form the nation's third-largest homebuilder. The company has 53 divisions in 23 states and 40 markets. Last year, the national company had homebuilding revenues of $3.11 billion.

Trammell Crow Residential has purchased an eight-acre parcel at Sunbow, the master-planned community in Chula Vista, and has broken ground on a 156-unit luxury apartment. The complex will offer five floor plans from 788 to 1,319 square feet and one to three bedrooms. Rents are expected to range from $1,100 to $1,700 a month.

Shea Homes San Diego has also acquired an additional 24 lots at Sunbow and is building Daybreak. Eight homes are being released Saturday. Daybreak was originally planned for 112 homes priced from $222,900. The one- and two-story floor plans range from 1,587 to 2,373 square feet with three to five bedrooms.

Sunbow is also marketing Fieldstone Horizons, Kaufman & Broad's Estrella and the Villa Serena Apartments for seniors.

Pardee Homes on Saturday will celebrate the preview grand opening of Tampico in the Westview community near Mira Mesa. Three two-story floor plans are offered from 1,826 to 2,309 square feet with three to five bedrooms. Prices start in the high $200,000s.

Shea Homes San Diego on Saturday will open for viewing the four model homes at its 144-home Canterbury in Carlsbad. The first phase has sold out. Canterbury offers four floor plans from 2,222 to 2,810 square feet with four to six bedrooms. Prices start in the mid-$300,000s.

Meadow Creek LLC has opened the third phase of its 94-home Meadow Creek development in Fallbrook. The project is two-thirds sold. Floor plans range from 1,800 to 2,112 square feet with three to four bedrooms. Prices start in the $190,000s.

Shea Homes San Diego is releasing eight homes Sunday as the fourth phase of its Diego neighborhood in McMillin Lomas Verdes in Otay Ranch. Prices start in the low $200,000s. The 86 paired homes offer a trio of two-story floor plans from 1,640 to 1,987 square feet with three to four bedrooms.

Brookfield Homes reports 36 homes have been sold since Jan. 15 at Barrington at Calavera Hills in Carlsbad. Nine homes were sold on one weekend in the recent release of the sixth phase. Prices start in the high $280,000s. The two-story floor plans range from 1,957 to 2,287 square feet with three and four bedrooms.

Ryland Homes has begun sales on the sixth phase of the Monterey Collection at Twin Oaks Valley Ranch in San Marcos. The dozen homes are priced from $272,990 to $316,240. A trio of floor plans ranges from 1,973 to 2,546 square feet with three to six bedrooms. Fifty-six of the planned 134 homes have been sold in less than nine months since the grand opening.

Ninteman Construction Co. has broken ground on a single-adult transitional housing facility in Indio that is to be operated by St. Vincent de Paul The facility, called Martha's Village & Kitchen, will provide emergency sleeping area for up to 120 men and women, a medical-dental clinic, a job-training center, a day care center, and a full kitchen and dining hall in a two-story, 45,000-square-foot, structural steel building. Completion is scheduled for November.

The approximately $7 million design-assist contract is with SVDP Management, the facilities management arm of St. Vincent de Paul. The McKinley Associates designed the center. Engineering services were by Burkett & Wong for civil and structural, TMAD Engineers for mechanical and Michael Wall Engineering as electrical.

Ron Hilsberry is Ninteman's project superintendent, Carmela Graves is the administrator and Todd Sykes is engineer.

Innovative Resort Communities reports sales at its PortaCielo in Lake Las Vegas have reached $23 million. Tom Dobron, president and CEO of Innovative, noted that at the current rate, "I'm anticipating that we will be completely sold out by December."

PortaCielo is currently in its third phase and only 33 homes remain for sale out of 72 planned. Three floor plans range from 2,460 to 3,500 square feet. Prices start at $515,000.

Barratt American on Sunday will open 11 homes at its 142-home Rembrandt in Temecula as the 11th phase. Prices range from $191,990 to $213,990. Forty-four homes have been sold.

March 2, 2000

March 9, 2000

March 16, 2000