SOURCE: Brandywine Homes

Brandywine Homes

June 27, 2011 12:32 ET

Brandywine Homes Announces Plans to Build 66-Unit Townhome Community in Rancho Santa Margarita

IRVINE, CA--(Marketwire - Jun 27, 2011) - Brandywine Homes will enter the Rancho Santa Margarita market with a 66-unit townhome community, the company announced today after closing a deal on four acres just off the 241 Toll Road.

Bungalows, an 11-building complex at 30482 Avenida De Las Banderas, will mix two- and three-story homes priced from the low $400,000s to the mid $500,000s.

"It is very rare to find an infill site like this in a built-out community in south Orange County," said Brett Whitehead, president of Brandywine Homes, a family owned and operated company specializing in infill development. "It's a great location in a great community -- quaint, quiet, low traffic and low crime with good schools."

Construction on the $31 million project is scheduled to begin early in 2012 with a full model complex finished by summer, 2012, and the first units ready for occupancy by the fourth quarter of 2012. The entire project will be completed in 2015.

The homes in Bungalows will range from 1,644 to 2,100 square feet with a variety of floor plans and either two- or three-car garages. Features include granite countertops, kitchen islands, two-tone paint accent, upgraded baseboards, dual lavatories, walk-in closets and balconies off the master bedrooms. The three-story homes will have large great rooms.

The community also will feature a central neighborhood park with a two-sided water wall and a bocce ball court. Brandywine has requested annexation into the SAMLARC Homeowners Association, which would grant residents access to a nearby lake, beach club, pools, tennis courts and other private recreational facilities.

"We're excited about bringing Bungalows to the market," said Whitehead. "The homes will be larger than townhomes on the resale market but smaller than single-family detached homes. We expect to attract younger buyers in their 30s, newlyweds, couples just starting families and perhaps some new buyers who don't want the big house or the maintenance of the backyard."

Brandywine specializes in identifying and converting underutilized space to desirable new home communities that blend seamlessly with the established neighborhoods that surround it. This property is the site of the former Morasha Jewish Day School, which closed two years ago leaving behind a vacant building. Brandywine worked closely with the city to develop a site plan that met the community's needs.

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