Real Estate
Builder Aims to Start Pacifica San Juan Housing Development this Year
Nine years after the project began, an Arizona developer hopes to finish the upscale housing development stalled by the recession.
The Arizona-based Taylor Morrison Home Corp. plans to begin construction on an upscale gated housing development in San Juan Capistrano by year’s end, according to company officials.
The company, which purchased the 200-acre Pacifica San Juan from Lehman Bros. for $150 million last month, hopes to begin selling the homes by spring, Taylor Morrison exec Phil Bodem told the Los Angeles Times.
According to the newspaper, half the homes will be priced above $1 million, and the builder is planning a recreation center and pool.
Find out what's happening in San Juan Capistranofor free with the latest updates from Patch.
The upscale development would complete a project begun in 2006 but stalled when the housing market collapsed.
Find out what's happening in San Juan Capistranofor free with the latest updates from Patch.
Photo: Patch Archive
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