Shortly after launching sales, the first phase of Landsea Home Corp.’s 132-home project in San Juan Capistrano is almost sold out.
The Newport Beach homebuilder (Nasdaq: LSEA) last month kicked off sales for Petra, a collection of single-family homes and townhomes with prices starting in the low $1 millions. Model homes are now under construction and expected to deliver late this month. It’s one of just a few larger housing developments to be built in the city in recent years.
That first phase of Petra, totaling 43 homes, is nearly sold out, according to Patrick Higgins, vice president of sales and marketing for Landsea Homes’ Southern California division.
“We had a robust interest list, and several buyers were ready to make a buying decision before model homes were completed and sales officially launched to the public,” Higgins told the Business Journal via email.