Luxury townhomes rise on the site of a former office park in Irvine, Calif.

Built near corporate offices, research and learning centers, and retail, LUX is an enclave of 39 townhomes in Uptown Irvine, Calif., built on a former office park site.

The KTGY Architecture + Planning-designed project includes homes that range from 1,587 sf to 2,077 sf. The open floor plans feature three to four bedrooms and attached two-car garages with select homesites that include private entry courtyards, large decks, and either a den or first-floor bedroom with an en-suite bath.

The development provides a unique opportunity for residents of the area to own a home rather than rent. “This new development fits right in with the fabric of the existing residential neighborhood. The majority of the residential communities in the IBC are rental apartments so it is exciting to give people homeownership opportunities, where there are professional jobs, shopping, dining and entertainment all within walking distance,” says Bryan Sevy, LEED AP, KTGY Associate Principal.

The project’s exterior combines clean lines and expansive windows with a contemporary color palette and stone accents. Facades oriented to both public and private streets and a private park create an active ground floor and also promote walkability to nearby offices and restaurants. The townhomes are priced from the mid $800,000s.

Despite a disruptive pandemic, investor demand for multifamily real estate was strong in 2020, according to a newly released Yardi Matrix Bulletin. Around 252,000 apartment units were absorbed last year. That’s about 1.7% of total market stock and down 12% from the 286,300 apartments purchased in 2019.