Quarterly Newsletter - Q2 2021
With COVID-19 restrictions easing and signs of normalcy returning, it’s an exciting time for California, and the ICLT is no exception. We have a very exciting project opening just over the horizon, and we’re eager to share all the details with the community. There’s a lot to cover, so this installment of our newsletter will be wholly dedicated to our new community: Sage Park.
Sage Park (formerly known as “Native Spring”) currently is being built in the Portola Springs community, north of Irvine Boulevard, and is set to open in early 2022. Move-ins will be conducted in two phases: one in the first quarter of 2022 and another during the summer of the same year.
The community will offer a total of 68 townhomes, including 16 two-, 36 three- and 16 four-bedroom homes, with square footage ranging from 1,282 to 1,609 square feet depending on the unit type.
Common area amenities will include a pool, spa, patio and BBQ area, recreation room and tot-lot playground.
Starting prices are expected to begin in the low $400,000 range, but final pricing has yet to be determined.
One of the most exciting aspects of Sage Park, both for the ICLT and for our prospective residents, is that it is our first homeownership development. Our previous developments have been rental communities for the City of Irvine, and our long-term goal has always been to also provide an affordable avenue to homeownership. With our rental communities, we’ve provided a foothold for low-income families to find the security they need to make that leap. With Sage Park, we’re now ready to provide a destination of our own making.
From now until 5 p.m. on June 30, an interest list for Sage Park is open at https://www.irvineclt.org/sage-park-interest-list. This list – open to one registration per household – will put your name in a lottery to become one of Sage Park’s initial residents.
Please note that selection for residency at Sage Park is not on a first-come, first-served basis. From the interest list, 68 households will be randomly selected in a lottery witnessed by the ICLT and representatives from the City of Irvine. Results will be emailed to all entrants on or before July 8, 2021. We ask that entrants do not contact the ICLT asking about the status of the process – all available information will be distributed via email.
Even if selected for one of the 68 homes, prospective residents must still meet all qualifications, including household size and proof of falling under the maximum household income, currently adjusted against moderate area median income. Should a prospective resident fail to qualify, the opportunity will pass down the list per the lottery. Frequently asked questions and qualification information are available at https://www.irvineclt.org/sage-park.
Our office recently was flooded when the sprinkler system was activated due to a fire in the floor above our space. Fortunately, the fire did not result in any injuries or major damage, but it ruined all the furniture and equipment in our brand-new office.
Thankfully, we store our computers and sensitive information elsewhere at night. We’re now undergoing the process of having the office restored and refurnished.
After such a long lockdown, we’re eager to meet with our community face to face again. But, for the time being, we are continuing to conduct all of our work remotely until the office is back online. We appreciate your understanding and look forward to seeing you in person later this year.