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9 Builders Tapped for 2nd Great Park Home Site

Irvine-based Standard Pacific Corp. is the lone locally-based homebuilder tapped to build homes at Beacon Park, the second community planned for the Great Park Neighborhoods.

Standard Pacific was one of nine builders selected to build at Beacon Park, a 960-home located next to the Orange County Great Park in Irvine.

The project, going up on land between Trabuco Road and Irvine Boulevard, is expected to open for sales later this year.

It’s the second batch of home development at FivePoint Communities’ Great Park Neighborhoods. The first phase, the 726-home Pavilion Park, opened in 2013 and is in the final stages of sales.

“Beacon Park will be an exciting extension of the innovative planning and design that visitors and homebuyers have experienced at Pavilion Park,” said Emile Haddad, chief executive for Aliso Viejo-based FivePoint.

Standard Pacific and DR Horton Inc. of Fort Worth, Texas, are the only builders involved in Beacon Park that weren’t part of Pavilion Park. Newport Beach-based William Lyon Homes is the sole Pavilion Park builder that’s not part of Beacon Park.

Other returning builders for Beacon Park are K. Hovnanian Homes, Lennar Corp., Pulte Homes Inc., Richmond American Homes, Ryland Homes, Shea Homes, and Taylor Morrison.

Miami-based Lennar, whose operations are largely run out of its Aliso Viejo office, is an initial investor in the Great Park development.

Financial terms of the lot sales were not disclosed. Real estate sources have estimated that the land sales could bring in between $325 million and $350 million for FivePoint, assuming an average per-lot price in the $325,000-or-higher range.

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Mark Mueller
Mark Mueller
Mark is the Editor-in-Chief of the Orange County Business Journal, one of the premier regional business newspapers in the country. He’s the fifth person to hold the editor’s position in the paper’s long history. He oversees a staff of about 15 people. The OCBJ is considered a must-read for area business executives. The print edition of the paper is the primary source of local news for most of the Business Journal’s subscribers, which includes most of OC’s major corporate and community players. Mark’s been with the paper since 2005, and long served as the real estate reporter for the paper, breaking hundreds of commercial and residential real estate stories. He took on the editor’s position in 2018.
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