Brandywine Homes Rescues Stalled Redevelopment Plan in Garden Grove, Calif.

October 29th, 2010

By Barbra Murray, Contributing Editor MultiHousing News

Garden Grove, Calif.–Where others have tried and failed, Brandywine Homes is succeeding. For years, officials of the City of Garden Grove in Southern California’s Orange County have wanted to redevelop a 6.4-acre parcel in the middle of the town’s civic center, and after several false starts by a handful of developers, Brandywine Homes will fulfill the long-held hopes, having broken ground on the Century Village multifamily project.

The 53-unit Century Village will occupy nearly three acres of the aforementioned 6.4-acre lot, known as Century Triangle. Located across from the city’s historic Main Street, the townhome project is an urban infill endeavor conceived to bolster the city’s housing market with the addition of reasonably priced for-sale dwellings. Local officials had tapped developer after developer to bring life to the site, but the various planned projects fell victim to the suddenly inhospitable credit markets, the collapse of the jobs market and the onset of the economic crisis. The last proposal that had been on the table was Urban Pacific Builders L.L.C.’s $300 million Brookhurst Triangle, which would have resulted in approximately 800 residential units and 30,000 square feet of commercial space. Read More >

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Brandywine Homes Rescues Stalled Redevelopment Plan in Garden Grove, Calif.

October 29th, 2010

BY BARBRA MURRAY, MHN ONLINE

Garden Grove, Calif.–Where others have tried and failed, Brandywine Homes is succeeding. For years, officials of the City of Garden Grove in Southern California’s Orange County have wanted to redevelop a 6.4-acre parcel in the middle of the town’s civic center, and after several false starts by a handful of developers, Brandywine Homes will fulfill the long-held hopes, having broken ground on the Century Village multifamily project.

The 53-unit Century Village will occupy nearly three acres of the aforementioned 6.4-acre lot, known as Century Triangle. Located across from the city’s historic Main Street, the townhome project is an urban infill endeavor conceived to bolster the city’s housing market with the addition of reasonably priced for-sale dwellings. Local officials had tapped developer after developer to bring life to the site, but the various planned projects fell victim to the suddenly inhospitable credit markets, the collapse of the jobs market and the onset of the economic crisis. The last proposal that had been on the table was Urban Pacific Builders L.L.C.’s $300 million Brookhurst Triangle, which would have resulted in approximately 800 residential units and 30,000 square feet of commercial space.

But Brandywine Homes’ plan stuck. The company began negotiating an agreement with the City for the redevelopment of Century Triangle in 2008, and this year, Century Village Group L.L.C., a financial entity led by Brandywine Homes, sealed the deal with the signing of a Disposition and Redevelopment Agreement. The agreement allowed the homebuilder to seek approval for the rezoning of the land to accommodate Century Village. “We’ve worked with a lot of city governments and working with the City of Garden Grove has been a breeze,” David Barisic, vice president, Brandywine Homes, tells MHN. “We worked very hard to put this project together and the City made it much less difficult than they could have. They are professional and they know what they’re doing. They were very easy to work with.”

Designed by architectural firm KTGY Group Inc., the multifamily community will offer four different three-story floor plans ranging in size from approximately 1,700 square feet to 2,250 square feet with anticipated sales prices starting in the mid-$400,000 range. Three-car garages will accompany over 20 percent of the residences, and all tenants will be able to avail themselves of private green space.

Nationally, the condominium market, like the rest of the for-sale housing market, has yet to recover, but there are those pockets in various areas where a new condominium development makes sense. “Demand varies, it depends on where you are actually doing the development,” Barisic says. “Our developments are mostly in older areas of Orange County where the supply of new homes is very limited. The area in general is completely built out aside from a strawberry farm here or there. It’s still a buyers’ market, so we will have to work hard to sell, but the demand is there.”

Despite previous visions of mixed-use offerings at Century Triangle, Brandywine Homes decided to stick with strict residential, and for good reason. “As difficult as the market may be for housing, it is not particularly better for retail,” he notes. “It’s difficult to get construction financing for retail because lenders want most of the space to be pre-leased and that is next to impossible right now. It’s a Catch-22; you need financing to build retail, but you need pre-leased retail to get financing. But Century Triangle is pretty much surrounded by retail, so we didn’t think we needed more.”

Regardless, new, financially accessible housing is city officials’ focal point for Century Triangle. “This is a significant milestone for the City of Garden Grove,” Jim DellaLonga, project manager for the city’s economic development department, notes in a prepared statement. “We have very little, if any, raw land for new homes and communities like Century Village will help us lure back people who have left for lack of affordable new housing.” Century Village’s first homes are scheduled to be available for sale by June 2011.

The condominium complex will occupy less than half of the Century Triangle site; however, Brandywine Homes is not making a beeline to the drawing board to create new plans for the remaining space–not right now, at least. “We designed the property in such a way that future phases could be incorporated.”

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Brandywine Breaks Ground on Town-Home Project

October 21st, 2010

BY J.V. GATEWOOD, OC METRO

Brandywine Homes, an Irvine-based builder, plans to break ground today on 2.6 acres of land that it purchased in Garden Grove for a 53-unit town-home development.

The Century Village Project is centrally located adjacent to historic Main Street and the city’s commercial and retail district. Construction is set to begin in December, and units should be available for sale by June of next year.

“This is a perfect project for Brandywine because we specialize in building new neighborhoods in fully developed environments,” said Brandywine President Brett Whitehead. “Most builders cannot take on these kinds of projects because they are too small, too complex and involve intensive and creative design. For 16 years we’ve been a consistent provider of compatible urban-infill communities in Southern California.”

Since its founding in 1994, Brandywine has established itself as a major player in the homebuilding industry, developing a combination of single-family homes and townhouses in cities throughout Orange County. Its foothold in Garden Grove and neighboring Stanton is strong, with six residential projects currently in existence.

Potential homeowners at the Century Village Project will be able to choose from four distinct floor plans, with sizes ranging from 1,705 square feet to 2,247 square feet. The selling price is expected to fall in the mid-$400,000s. The homes will feature front porches and balconies, and up to 20 percent will have three-car garages.

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Brandywine Homes Purchases 2.67 Acre Urban Infill Site for 53 Townhomes in Garden Grove

October 20th, 2010

OC BUSINESS JOURNAL

The Irvine-based homebuilder continues to expand with its third purchase this year – Brandywine Homes, one of Southern California’s most successful infill developers, has acquired the Century Village project in Garden Grove, Calif., a 53-unit residential community on 2.67 acres of land that the city has been trying to redevelop for several years.Century Village is the third acquisition in Garden Grove this year by Brandywine Homes, which recently climbed to number 12 among the top 30 homebuilders in Orange County, according to the 2010 rankings by the Orange County Business Journal. It is one of only three private builders among the top 12 on this year’s list.

The Century Village site is located in the heart of Garden Grove’s civic center, adjacent to historic Main Street, and will help to re-invigorate Garden Grove’s housing market, city officials say. Brandywine Homes will start construction within two months and new homes are expected to be open for sale by June 2011. “This is a perfect project for Brandywine because we specialize in building new neighborhoods in fully developed environments,” said Brandywine President Brett Whitehead. “Most builders cannot take on these kinds of projects because they are too small, too complex and involve intensive and creative design. For 16 years we’ve been a consistent provider of compatible urban infill communities in Southern California. Read More >

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Brandywine Homes Purchases 2.67-Acre Urban Infill Site For 53 Townhomes In Garden Grove, California

October 20th, 2010

The Irvine-based homebuilder continues to expand with its third purchase this year

IRVINE, Calif. – October 20, 2010 – Brandywine Homes, one of Southern California’s most successful infill developers, has acquired the Century Village project in Garden Grove, Calif., a 53-unit residential community on 2.67 acres of land that the city has been trying to redevelop for several years.

Century Village is the third acquisition in Garden Grove this year by Brandywine Homes, which recently climbed to number 12 among the top 30 homebuilders in Orange County, according to the 2010 rankings by the Orange County Business Journal. It is one of only three private builders among the top 12 on this year’s list.

The Century Village site is located in the heart of Garden Grove’s civic center, adjacent to historic Main Street, and will help to re-invigorate Garden Grove’s housing market, city officials say. Brandywine Homes will start construction within two months and new homes are expected to be open for sale by June 2011.

Read More >

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