The developers of two planned high-rises in Irvine said they’ve sold about 90 of 101 condominiums before building them.
The presale figures are an encouraging sign for high-rise developers who plan 10 condo towers in the area around Jamboree Road and Campus Drive.
Average price for a condo in the first tower at The Plaza-Irvine: $1.2 million. The condos range from 1,170 square feet to 4,300 square feet.
Phoenix-based Opus West Corp. and Scottsdale-based Geoffrey H. Edmunds & Associates broke ground earlier this month on the twin 15-story towers at the corner of Jamboree and Campus.
Opus, the managing partner overseeing the development, originally planned to start construction on the first tower in January. Heavy rains delayed building.
Developers have started selling condos in the second tower. It’s identical to the first, with 101 condos ranging in price from nearly $600,000 to $3.5 million.
Irvine-based architecture firm McLarand Vasquez Emsiek & Partners Inc. designed the condo towers.
A few blocks up Jamboree, Bosa Development Corp. is far along on construction of twin 18-story high-rises. The Canadian-based developer also has seen brisk sales.
And across the street from Bosa’s site, at Jamboree and Michelson Drive, the local arm of Miami-based Lennar Corp. is demolishing the former Parker Hannifin Corp. aerospace campus.
Lennar and partner Highgate Holdings, an Irving, Texas-based real estate investor, plan some 1,300 condos, including one high-rise, on the site.
,Mathew Padilla
