REAL ESTATE
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Dove Canyon Deal: Richmond American Homes of California Inc., the Irvine home builder, has purchased 80 finished housing lots within the master-planned community of Dove Canyon. The lots, bought from a German bank, cost $6 million, or $75,000 each. The addition of various fees will push the cost to about $90,000 apiece.
O’Donnell/Atkins Co. of Costa Mesa brokered the deal. The negotiations were challenging “because the lots are among the last finished single-family detached lots still available for development in Orange County,” said Craig Atkins, co-founder of the company.
Richmond America, which already has two projects in Dove Canyon, plans to build 80 single-family homes on the site, with prices ranging from $250,000 to $270,000. The homes in the Emerald Crest project will have four, five or six bedrooms and will range in size from 2,300 square feet to 2,750 square feet.
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