Orange County's real estate market is experiencing a dynamic period, highlighted by the near completion of a unique intergenerational housing project in Santa Ana. Concurrently, significant commercial and residential developments are moving forward, including a $16.25 million medical office sale in Irvine and the expansion of vacation rental and homebuilding companies.
Key Takeaways
- An $8.5 million intergenerational campus in Santa Ana will soon house seniors and transitional-aged youth.
- A three-building medical complex in Irvine was sold for $16.25 million in a deal brokered by CBRE.
- Newport Beach-based Beachview Rentals was acquired by Maui Resort Rentals, forming a new company named Dream Resorts.
- PLC Communities is developing 228 new homes across two neighborhoods within the Miralon community in Palm Springs.
Santa Ana Prepares to Open Innovative Housing Campus
Construction is nearing its final stages on the Richard Lehn Intergenerational Campus in Santa Ana, a pioneering housing solution for Orange County. Developed by the nonprofit Illumination Health + Home, the project is designed to support two distinct vulnerable populations: seniors aged 62 and older and transitional-aged youth (TAY) between 18 and 24.
The campus aims to provide stable housing and comprehensive support for approximately 36 individuals from 14 households that have previously experienced homelessness. The project represents a new approach to community housing by fostering connections between different generations.
Structure and Occupancy
Located at 918-920 N. Bewley Street, the 7,473-square-foot campus consists of two residential buildings and a separate accessory dwelling unit (ADU). This structure is specifically designed to meet the needs of its residents.
Campus Unit Distribution
- Transitional-Aged Youth: Eight units are designated for young adults.
- Seniors: Two large three-bedroom units will provide shared housing for six seniors.
- Management: One unit is reserved for an onsite property manager.
- Staffing: The ADU will house on-site staff and administrative functions.
Comprehensive Support Services
Beyond providing shelter, the campus will offer a range of integrated services. According to Illumination Health + Home, residents will have access to on-site medical care, behavioral health services, and job readiness programs. For younger residents, child development support will also be available.
Orangewood Foundation, a nonprofit focused on youth services, will manage the programming for the TAY residents. This support is critical for young adults transitioning out of systems like foster care or juvenile detention, helping them develop skills for independent living and sustainable careers.
Funding and Collaboration
The $8.5 million project was made possible through a collaboration of public and private funding. Key contributors include CalOptima Health, the city of Santa Ana, the Samueli Foundation, and the Cooper Housing Institute. Additional funding was secured by U.S. Representative Lou Correa. The campus is scheduled to open in early 2026.
Irvine Medical Complex Sells for $16.25 Million
In a significant commercial transaction, the Creek Medical Buildings complex in Irvine was sold on October 3 for $16.25 million. The sale, confirmed by brokerage firm CBRE, involves a three-building property located at 37, 39, and 41 Creek Road.
The property, constructed in 1986, encompasses a total of 43,374 square feet. CBRE's National Office Partners represented the seller in the transaction. Both the buyer and the seller were not publicly identified.
At the time of the sale, the medical office complex was reportedly fully leased, indicating strong demand for medical real estate in the area. The stability of the asset likely contributed to its significant sale price.
Newport Beach Rental Firm Acquired in Major Consolidation
The vacation rental market saw a notable consolidation as Newport Beach-based Beachview Rentals was acquired by Maui Resort Rentals. The two companies have merged to form a new entity called Dream Resorts. Financial terms of the acquisition were not disclosed.
Maui Resort Rentals, founded in 2010 by Chris Geng, manages a portfolio of over 300 properties in Hawaii. The acquisition adds 170 properties from Beachview Rentals, expanding the new company's footprint into the Southern California market.
"This past year has been an exciting validation of everything we’ve built," said Chris Geng, founder of the acquiring company. "We always believed the model we refined in Maui would translate successfully to other high-demand mainland markets, and the first year at Beachview has exceeded all expectations."
The combined company has also strengthened its leadership team. Ned Lucks has been appointed Chief Technology Officer, and Tom Heffernan joins as Chief Marketing Officer. Officials confirmed that the merger resulted in no layoffs. The Newport Beach headquarters for Dream Resorts is located in Peninsula Village.
Major Homebuilding Project Underway in Palm Springs
Newport Beach-based developer PLC Communities is significantly expanding its presence in Palm Springs with the construction of 228 new homes within the Miralon master-planned community. Miralon is known for its unique "agrihood" concept, built on a former golf course and featuring olive groves and community gardens.
The development is divided into several distinct neighborhoods:
- Olea: This community will feature 71 single-family homes. New model homes opened earlier this month, with prices starting from $1.1 million.
- Lily: Set to launch in 2026, this neighborhood will consist of 157 paired homes. These residences will offer two to four bedrooms, with prices anticipated to start in the $700,000s.
In addition to PLC's projects, another builder, Woodbridge Pacific Group, is launching presales next month for its Solace community, which will include 25 homes within Miralon. This collective development activity underscores the continued demand for new housing in the Palm Springs area.
