With the Irvine Company's decision to diversify its development
in 1960, family communities were organized. Among them, a
group of single family residences were designed in Eastbluff
to provide housing for people with growing children needing
the services provided by the brand new high school, elementary
school, shopping center and churches. Within walking distance
of these services an enclave was established with a reputation
for stability, and affordability. To this day, this has been
the hallmark in the community of Eastbluff of about 450 homes.
The floor plans and generous lots were designed with the
idea that children were going to live there for many years.
At the time of its inception in 1964 , the Irvine Company
did not provide for the sale of the ground, and each homeowner
was on leasehold, paying a yearly lease of $345 for the use
of the ground. Two builders, Macco and Lusk, provided the
homes, using variations of 11 floor plans.
By 1969, however, the philosophy had changed and the lots
were offered to residents at figures affordable at that time.
By 1975, 14 homeowners had purchased their ground but the
low leasehold payments and very small appreciation on land
value was a deterrent to land purchase. In fact, the first
resales of homes including the ground met with firm resistance
in the market place and it was 1977 before two fee simple
sales were noted.
With the enormous inflation in the late 1980's the picture
changed. Now it would be hard to find 14 houses remaining
on leasehold ground in Eastbluff, as homeowners realized that
land appreciates and the investment was vital to their security.
With the Improving economy of the late 80's also came the
renaissance of the community. The large, sturdy homes on great
big lots allowed for major remodels and custom construction.
For the future, the values are not only secure, but on the
verge of a basic change. With the demand for view lots, large
spaces conveniently located to shopping and freeways in a
conservative community atmosphere, along with Lincoln Elementary
School, and Corona del Mar Junior and Senior High School.
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