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California is among the most desirable places to live in the world, despite its challenges and high cost of living. The Golden State offers much more than just beautiful landscapes and great weather.
New Affordable Housing Community Coming to Irvine
Construction for 68 affordable townhomes is underway in Irvine to help the city meet its state-mandated affordable housing quota.
Sage Park will include 16 two-bedroom, 36 three-bedroom, and 16 four-bedroom homes. The construction lot spans fouracres north of Irvine Boulevard in Portola Springs.
When it’s complete, it will be the first ownership project by the Irvine Community Land Trust (ICLT), a non-profit that creates affordable housing.
“We are aiming to make Irvine a place where residents can thrive rather than barely get by,” ICLT executive director Mark Asturias said in a statement. “Sage Park provides a wonderful opportunity for moderate-income families to enter the world of home-ownership at nearly half the cost of a comparable home elsewhere in Irvine.”
The coronavirus pandemic has been absolutely devastating for dozens of industries, but when it comes to real estate, houses are selling like never before.
California voters passed Proposition 19 in November with just over 51% of the vote. The new law is set to take effect on Feb. 16, 2021, and tax increases are expected for Californians planning to pass property from one generation to the next.