SOURCE: Brandywine Homes

Brandywine Homes

September 16, 2014 17:43 ET

Brandywine Homes' Parkview Apartments in Buena Park Is Open for Lease

Demand High for Area's Only New Upmarket Community

BUENA PARK, CA--(Marketwired - Sep 16, 2014) -  Brandywine Homes, known for blending single-family infill projects into existing neighborhoods, has begun leasing at Parkview Apartments, a 22-unit community of two-bedroom single-level flats and two-story townhomes on 1.1 acres on Knott Avenue just north of Orangethorpe Avenue in Buena Park, Calif. Brandywine has received more than 150 inquiries since leasing signs went up three weeks ago. This multifamily development is scheduled to be completed by the end of August, with first move-ins slated for early September.

"This community will be successful because it is the only new upmarket apartment community in the area, with superior access to freeways and a central location to both Los Angeles and Orange County job centers," said Dave Barisic, vice president of sales and marketing for the 20-year-old homebuilding company. "All units feature open and spacious two-bedroom layouts, granite countertops and energy-efficient features that will help keep monthly utility costs down."

Geared toward couples and young families, the new community with units of approximately 1,000 square feet is expected to help address the shortage of affordable housing in Orange County, where apartment vacancy rates are low and rents in some areas are at historic highs.

"With the economy improving, the demand for rental properties is stronger than it has been in years," Barisic said "People who've been living with relatives or friends still may be reluctant to buy. But, increasingly, they're looking for their own place to rent."

Designed by LSA Architecture, the community includes a tot lot and barbecue areas. 

Located in the heart of Orange County, Parkview Apartments is minutes from the 91 and 5 Freeways and blocks from The Source, a 450,000-square-foot shopping destination that feature streetscapes lined with restaurants, retailers and nightlife. Residents will also be near Knott's Berry Farm, Soak City, the Buena Park Downtown shopping center and Dad Miller Golf Course, home to the Tiger Woods Foundation. Resident's children can attend respected schools in the Buena Park Elementary School District and the Fullerton Joint Union High School District.

According to the National Association of Home Builders' formula to determine the local impact of multifamily housing in typical metro areas, adding 22 rental apartments will generate $1.7 million in local income, $86,900 in taxes and other revenue for local governments, and seven local jobs.

Parkview Apartments is one of four apartment communities Brandywine is building, including 25-unit and 34-unit rental communities in Garden Grove. Though Brandywine's core business remains single-family homes -- and the company expects to double its building of new homes over the next two years -- Brandywine started looking for infill locations for multifamily projects four years ago as a way to diversify its residential offerings.

About Brandywine
Brandywine Homes is a residential homebuilder based in Irvine, Calif., that specializes in challenging infill development. Founded in 1994, the family-owned and operated company has built or developed almost 1,500 homes in 45 small- and mid-sized infill communities, revitalizing some of Southern California's oldest and most established neighborhoods. Brandywine builds homes that respect and complement the heritage, values and architectural integrity of existing neighborhoods and the people who live there -- making a positive contribution to the community. www.brandywine-homes.com