IRVINE, CA—Builder California Pacific Homesreports that 98 Caserta-branded homes have sold in 12 months at theVillages of Irvine community of CypressVillage. The demand has become so great for the newlydeveloped collection of townhomes andflats that extended phases are now selling aswell.

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“The sales we're seeing at Caserta are extraordinary,” saysLeslie Stillman, VP, sales and marketing anddesign center for California Pacific Homes. “We attribute thecollection's success to the appealing design, comfortable interiorspaces and a desirable location that offers numerous lifestyleadvantages in Irvine.”

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Caserta homes feature modern amenities, including Bosch kitchenappliances and abundant storage. Interiors include two to threebedrooms plus a loft, two to three-and-a-half baths and a two-carattached garage in approximately 1,165 square feet to 1,810 squarefeet. The collection is priced from the high $400,000s.

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Sales for Caserta fit with the general trend of overall healthfor the multifamily community nationwide, butespecially in Orange County. As GlobeSt.com reported last week, TimPaone, a partner with Cox Castle &Nicholson, told us, “Cities are encouraging greaterdensity, such as tearing down an old industrial building andputting up multifamily projects.” And Drew Emmel,land-use partner with Allen Matkins, told us, “An interesting dynamic is theconversion from industrial to multifamily, whichwill continue to accelerate and put pressure on industrialdevelopers from multifamily developers who want their land.” Thecompetition for land seems to be accelerating as multifamilydevelopers find ways to get these much-desired projects built.

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Carrie Rossenfeld

Carrie Rossenfeld is a reporter for the San Diego and Orange County markets on GlobeSt.com and a contributor to Real Estate Forum. She was a trade-magazine and newsletter editor in New York City before moving to Southern California to become a freelance writer and editor for magazines, books and websites. Rossenfeld has written extensively on topics including commercial real estate, running a medical practice, intellectual-property licensing and giftware. She has edited books about profiting from real estate and has ghostwritten a book about starting a home-based business.