The developers of two planned high-rises in Irvine said Wednesday they have sold about 90 condominiums of 101 units 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.
Phoenix-based Opus West Corp. and Scottsdale-based Geoffrey H. Edmunds & Associates broke ground last week on two 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.
On Saturday, developers began 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.
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.
Still, some real estate players are skeptical about the depth of market demand for high-rise living. One critic previously suggested not all 10 planned towers would get built.
