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Irvine Company’s The 2010 New Home Collection to be Sold Early Next Year

The New Homes Reflect Extensive Consumer Research and Offer Fresh Approach to Home Design and Livability;

Prices to Start in Low $300,000s

Inspired by extensive research about what consumers want when they purchase a home – and responding to pent-up demand for new housing – the Irvine Company is set to debut a collection of homes that the company will begin selling early next year.

Known as “The 2010 New Home Collection,” the series of 25 floor plans from six different builders will be located throughout eight neighborhoods in the villages of Woodbury and Woodbury East, two of the Irvine Company’s acclaimed Villages of Irvine.

The homes will feature fresh approaches to room layout and function that emerged from nearly two years of extensive consumer research by the company. They will also feature a broad price range designed to appeal to a wide range of homebuyers, from first-time buyers to those looking to move up, company officials said.

“We are very excited about The 2010 New Home Collection, because it will create new opportunities for people from all stages of life to enjoy the experience of owning a home in Irvine and the wonderful lifestyle that comes with it,” said Daniel Young, president of Irvine Company Community Development. “The Villages of Irvine are admired nationally for their master-planned design, which places homes within walking distance of parks, trails, schools and shopping.

“The 25 floor plans of The 2010 New Home Collection will bring even more variety and character to the villages of Woodbury and Woodbury East,” Young said. “Perhaps most exciting of all, the floor plans reflect consumers’ ‘wish lists’ in home design and function, resulting in spaces that are attractive and highly livable, and that seamlessly merge outdoor and indoor living.”

Prices for the new homes are expected to start in the low $300,000s, with the first models scheduled to open early next year.

All homes in the collection will be designed and built according to standards established by Build It Green, a non-profit organization in California that promotes healthy, energy- and resource-efficient homes throughout the state. The homes will incorporate a wide range of materials, finishes, appliances and energy systems that exceed California building and energy code requirements.

By adhering to Build It Green principles, The 2010 New Home Collection will enable homebuyers to easily assess how environmentally friendly the homes are.

The homes will also be eligible for FHA financing, which will make them affordable to a wide range of buyers.

“A variety of data shows there is significant pent-up demand for new housing in Irvine,” Young said. “Historically, buying a home in Irvine has been a tremendous long-term investment and it remains a very desirable community for potential homebuyers as demonstrated by the extremely favorable response to new homes in Woodbury East.”

Young pointed to the recent success of Ivy, a neighborhood in Irvine’s village of Woodbury East, to illustrate the demand that exists for new homes. New homes in Ivy were snapped up within 15 minutes the day the first phase was released in July. More than 2,000 people turned out to tour the model homes; dozens waited in line for up to two hours before the sales office opened.

Over the last two years, the Irvine Company conducted extensive research to see if consumers’ tastes had changed when it came to what they were looking for in the ideal house.

“The research involved interviewing hundreds of consumers, listening to potential homeowners’ dreams and aspirations, and using what they told us to make sure that our new home designs reflect current consumer preferences,” said Rob Elliott, the Irvine Company’s group senior vice president for Urban Planning and Design.

“Over and over, consumers told us they wanted more livability and better functionality in floor plans. Topping their wish lists were greater interaction between rooms for family gatherings, and a seamless flow from inside to outside living space,” Elliott said. “Our weather in Southern California is fantastic, and one of the things we really focused on with these floor plans was creating a strong relationship between the inside and outside living spaces.”


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