Groundwork is underway for the next big phase of residential development at Tustin Legacy.
Homebuilder Brookfield Residential is moving ahead with a 400-home project dubbed The Landing, at the intersection of Barranca Parkway and Tustin Ranch Road. It’s a short walk from the Flight office complex and The District shopping center.
The roughly 25-acre site will hold 117 detached homes, 129 triplex townhomes, and 154 stacked flats and townhomes, according to city records.
The project’s been in the works for a couple of years; it was temporarily shelved amid the pandemic.
About $61.5 million was cited as the base purchase price for the land in 2020, according to city filings.
That works out to about $2.4 million per acre, and nearly $154,000 per residential unit.
Brookfield, which has been part of other housing projects at the former Marine helicopter base site over the years, reaffirmed its commitment to move ahead with the project last year and is now appears to be pushing ahead with the development.
Signage for the project was put up a little more than a month ago; grading started a few months ago and other early stage work is now underway at the site. Model homes are expected to be open in the first half of next year, according to the builder.
It’s a busy area for construction of late; a good amount of roadwork is also taking place along Tustin Ranch Road/Von Karman Avenue near the residential site.
According to Brookfield, which is based in Calgary but runs much of its homebuilding operations from its base in Costa Mesa, The Landing will count a trio of offerings:
• Terra, elevator-served flats ranging from 1,062 to 2,275 square feet with one to three bedrooms.
• Luna, townhomes ranging from 1,985 to 2,270 square feet with three or four bedrooms.
• Cira, single-family homes ranging from 2,433 to 3,398 square feet with four or five bedrooms, “all offering flex spaces, offices, decks, smart home technology and curated designer finishes.”
Terra homes are expected to be priced starting in the low $600,000s for one-bedroom units, and three-bedroom units starting in the high $800,000s.
Luna homes are expected to start in the mid $900,000s and Cira homes are starting around $1.2 million, according to The Landing’s website.
The Tustin project is one of three in the works locally for Brookfield. It is planning Los Coyotes, an 80-unit condo project next to a gold club in Buena Park, and The Currents, a 74-unit single-family home project in Fountain Valley.