Justifying Luxury Builds in a Low-Affordability Market

Ayala: “We price to the market; the market dictates price. If someone is not buying it, we need to adjust the price.”

SAN DIEGO—Offering homes at a variety of price points and receiving high demand for each of them means that projects like Artesana make sense even for the San Diego market, Pardee Homes’ San Diego-division president Jimmy Ayala tells GlobeSt.com. Pardee has launched a new phase of sales at its Artesana neighborhood, a collection of 56 luxury residences within the Pacific Highlands Ranch master-planned community in coastal North County San Diego.

The designs for Artesana were inspired by architect Lillian J. Rice, a San Diego native who specialized in California Spanish Colonial-style design and was the lead planner and designer of nearby upscale Rancho Santa Fe in the 1920s. In addition to Artesana, Pardee Homes is currently selling at other neighborhoods in the community including Casavia, Casabella and Casabella Collection and at future neighborhoods Almeria and Olvera opening in late April.