Luxury cinema-goers were shocked to discover Island Cinema in Fashion Island, Newport Beach, was suddenly closed. After all, the seven-screen theater with its reserved leather seats and a lobby offering wine and snacks was touted as the first luxury ...
55 is the New…
During the more than 50 years of residential development in Irvine, there has never been a residential development restricted to age 55-plus buyers. That’s about to change. With the baby boomer generation entering retirement age and noting the success of 55-plus residential developments in Rancho Mission Viejo to the south, CalAtlantic Homes will unveil models at the end of this year for Travata in the Irvine Co.’s Cypress Village in Irvine.
Travata by CalAtlantic will have three neighborhoods with one- and two-story homes and no Mello-Roos taxes. Castillo will offer two- and three-bedroom detached and paired homes from 1,281 to 1,973 square feet. Aldea will have two-bedroom ”carriage-style” homes from 1,430 to 1,886 square feet; and Palencia contains two- and three-bedroom single-family homes from 1,848 to 2,567 square feet.
The gated community will feature the Travata Club with clubhouse, saltwater pool, spa, bocce and pickleball courts, and fitness center. Prices have not yet been released.
More 405 Construction
No pain, no gain? That might be the case when, beginning next year and continuing through 2023, the 405 freeway will undergo construction from the 73 freeway in Costa Mesa to the 605 freeway off Rossmoor, a distance of 14 miles.
The $1.9 billion construction program will add a general-purpose lane on both sides between Euclid in Fountain Valley and the 605, and express toll lanes in each direction between the 73 and the 605.
The new toll lanes will allow single-person usage for a fee, two-person usage during non-peak hours only, and three-person usage free at all times, Caltrans says. The good news: Two-person use will be free after 2026.
The go-ahead was assured when the Orange County Transportation Authority recently received a $629 million federal loan.
New San Juan neighborhood
Pacifica San Juan, the 259-acre site on the hills above San Juan Capistrano originally approved for 416 homes, has been a long time coming. In 2006, SunCal developed the first 98 homes; then entered bankruptcy during the 2008 economic crash. As a result, the rest of the site sat idle for seven years.
In 2015, Scottsdale, Ariz.-based homebuilder Taylor Morrison purchased the site at Avenida California and began developing the residential neighborhoods of Blue Harbor, Crystal Downs North and Belle Haven.
Now ground has been broken for a fourth neighborhood, The Cove. The Cove will consist of 70 attached homes with three floor plans.Models are scheduled to open this month.
Several months ago, this column reported that Uptown Newport, one of the most significant real estate developments in Newport Beach in recent years, might be getting underway, having received approvals several years ago.
Groundbreaking has taken place and developers Shopoff Realty Investments, Irvine, and Picerne Group, Newport Beach, are moving ahead with the first phase of Uptown Newport on a portion of the 25-acre former industrial site on Jamboree Road between MacArthur Boulevard and Birch Street.
Island Cinema Gets Luxe Upgrade
Luxury cinema-goers were shocked to discover Island Cinema in Fashion Island, Newport Beach, was suddenly closed. After all, the seven-screen theater with its reserved leather seats and a lobby offering wine and snacks was touted as the first luxury cinemain Orange County when it opened in 2011.
Not to worry. Forget luxury cinema. Scheduled to open in its place next spring is The Lot, an ultra-luxury cinema. The Lot, from San Diego, will offer leather recliner seats wired with a button to page a butler. A full range of cocktails and premium dining items will be offered from a stand-alone restaurant. The restaurants in the two San Diego Lots are open for breakfast, lunch and dinner, with menu delicacies including$45 steaks.
A highlight of the development will be an indoor/outdoor social space. Oh yes, movies. The number of screens has not yet been announced.
The price of admission? In San Diego, ticket prices range from $15 to $23.50 with a $12 special all day Wednesdays and food and beverage happy hours during the week.
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