Business & Tech

New Developer Comes Home to San Juan

An earlier version of the company built two projects in San Juan Hills and is now back to build another 132 homes.

The real estate market is bound to stay flat in 2012, but one new landowner in town expects an uptick in 2013 and 2014, and he’s putting his money where his property is.

Those are the words and actions of Philip Bodem, Southern California division president for Taylor Morrison of Scottsdale, Ariz. The company and workers are already preparing the site for 132 homes near the intersection of Camino del Rio and Vista Granada.

“It was a natural for the builder to come back,” Bodem said. Taylor Morrison is the result of a 2007 merger between Taylor Woodrow and Morrison Homes. In its earlier carnation, Taylor Woodrow built two of the developments in San Juan Hills.

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So it’s like coming home.

Bodem said the site continues to be safe, close to shops and schools and is surrounded by the San Juan Hills Golf Course and the rolling hills beyond them.

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“Nothing else is going to be built back here. The beauty of the hills and the quiet this location offers will remain as it is,” he said.

In a little more than a month, construction will begin on five model homes, which the public can tour starting probably in July, Bodem said. With most of the grading work done and infrastructure installed by the previous builder, Taylor Morrison can move fast and be there right when the market starts its real rebound.

The first sales could close as early as October, Bodem said.

There will be two “collections” at Campanilla, what the 132 homes will be called: The “Artisan” collection will feature smaller homes in the 1,800-2,200-square-foot range, and the “Villa” collection’s homes will be between 2,600-3,100 square feet and half of them will have either golf course or valley views, Bodem said.

Pricing won’t be established until the developer is about a month away from debuting the homes, he added. But compared to the last two tracts built in San Juan, Rancho Madrina near the Marbella Country Club and Pacifica San Juan with ocean views, Campanilla will be more reasonably priced.

Just by “word of mouth,” the company has fielded many calls and emails about the project, many of them coming from current San Juan Capistrano residents, said Shari Fobel, who works in the marketing department at Taylor Morrison.

“I think we’re going to have strong interest,” Bodem said. “It’s the last piece in San Juan Hills.”

An official website for the project is still about 30 days away, Fobel said.

It’s a nice change of pace for an industry that’s been lagging for a long five years, Bodem said. The developer has three communities under construction in Irvine and just announced a luxury townhome project in Yorba Linda. In San Diego County, two projects are selling and a third is also gearing up, that one in Carlsbad.

“It’s the most activity we’ve had in five years in terms of bringing new communities online,” he said. “2012 will be similar to 2011 in that it will be relatively stable. I think once we get into 2013 and 2014, we’re going to see things move. We’re setting ourselves up for 2013 and 2014.”


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