Village of Stonegate East sees one-third of their models sold after being on sale for less than a month.

BY SARAH PETERS sarah.peters@latimes.com

IRVINE — One-third of the homes in the Irvine Co.’s newest community sold less than one month after going on sale, officials with the Newport Beachbased company announced this week.

The Village of Stonegate East, which includes Irvine Co. affiliate Irvine Pacific’s return to homebuilding after a two-decade dormancy, opened Nov. 6 and is located at Sand Canyon Avenue and Spring Meadow.

Ninety-five of the 236 models comprising Stonegate East’s neighborhoods of Santa Rosa, Los Altos and Capistrano have already been sold — many of them before the models were completed, said Daniel Young, president of the Irvine Co. Community Development and Irvine Pacific, which opened the new subdivisions Los Altos and Capistrano.

The village also includes the community of Santa Rosa, which debuted by Van Daele Homes earlier this year.

“Our goal is to continue to meet the strong demand for new homes in Irvine,” said Young. “Homebuyers tell us they are attracted to the Village of Stonegate East because of attainable home prices, historically low interest rates, innovative floor plans that emphasize casual living and entertaining, and the opportunity to enjoy the unmatched lifestyle uniquely found in Irvine.”

The neighborhoods offer a mix of townhomes and flats, duplexes and row townhomes. Pricing begins in the low $300,000s and the homes are eligible for FHA financing.

However, before building the models, Irvine Pacific asked the customers what they wanted in a home, Young said.

See IRVINE, page C40