New Garden Grove Apartments Mark a Push to Multifamily for Brandywine Homes
Feb. 08, 2014
Jan. 14, 2014
By Joshua Ayers, Senior Editor
Garden Grove, Calif.—Irvine-based Brandywine Homes has started the lease-up at Waterstone, a 25-unit community located in Garden Grove, Calif. Several residents have already inked leases and have begun to move in to their apartments.
Waterstone is situated on .887 acres near Dale Street and Stanford Avenue in Garden Grove, and has an offering of two- and three-bedroom townhomes and flats. Brandywine is looking to take the edge off of the affordable housing shortage in Orange County where rent rates in some areas of the county are at record highs and vacancy rates are staying firm around 4.3 percent.
“The demand for rental properties is huge right now; the timing is right for Brandywine to be a part of that market,” says Dave Barisic, vice president of sales and marketing for the 18-year-old homebuilding company. “Now that the economy is starting to improve, people who have been living with their relatives or doubling up with friends are looking for their own place – and they’re hesitant to buy just yet.”
The company has targeted its leasing efforts primarily towards couples and young families that are already renting in the area and are in the market for a newer rental.
The homes were designed by LSA Architecture and range in size from 900 to 1,360 square feet. Interiors include granite countertops, refrigerators and in-unit washer and dryers, while common areas feature a tot lot and barbecue areas. The location in Garden Grove provides convenient access to retail, grocery and dining, as well as larger area attractions such as Disneyland and Knott’s Berry Farm.
While Brandywine still remains focused on its core market of single-family homes, it has begun a push into multifamily with the completion of Waterstone, as well as another 22-unit property under construction in nearby Buena Park, Calif., as well as a 35-unit development in Vista, Calif., in northern San Diego County.
