Rancho Mission Viejo Begins Rienda Home Sales
Newport Beach-based Trumark Homes, Nevada-based Tri Pointe Homes Inc. (NYSE: TPH) and Miami-based Lennar Corp. (NYSE: LEN) are the builders for the phase, which includes four neighborhoods. Lennar is building two Gavilan 55+ neighborhoods totaling 145 homes, with prices starting in the $700,000s.
Prices for the other two neighborhoods start around $1 million.
The first phase of Rienda, which included 671 homes, opened last April and is nearly 50% sold out.
“Rienda has experienced strong sales since opening last April and that demand continues to grow with especially strong interest in our Gavilán 55+ homes,” Stephanie Walker, vice president of sales and marketing for Rancho Mission Viejo, said in a statement. “So far, 19 homes have been sold in this newest phase.”