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Warmington Homes Buys Twenty More Custom Lots in Covenant Hills

Anyone who has followed Ladera Ranch real estate knows that Warmington Homes timed the market perfectly with its Legacy Collection of homes in Covenant Hills.  Warmington broke ground on its 28 lots late last summer and opened the two model homes to the public in November.  Since then, phase releases have sold quickly and the development has been a success for the small, Newport Beach-based builder.  Can they do it again?

It appears that Warmington has negotiated the purchase of an additional twenty lots from DMB Ladera, expanding the Legacy Collection in Covenant Hills to a total of 48 homes.  Like the first 28, these 20 lots are also formerly custom home lots.  We’ve speculated on the location of the new Warmington tract below.  Red lots are the first 28 and green lots are what we believe to be the most recent 20 lots.  We know Mirage Road has changed names and we assume Mathew and Lauren have also been changed to match Warmington’s cowboy streets theme.   Apparently we are a little late to the party.  Warmington is already selling homes on the new lots.  According to this Warmington press release, “already, 30 of the 48 homes have been released for sale and 29 have been sold.”

All in all, this is a good development.  Although custom home lot sales and construction seems to be picking up speed, this seems to be the quickest way for the developer to “finish” Covenant Hills and Ladera Ranch.

Existing (red) and new (green) lots for Warmington Homes’ Legacy Collection tract in Covenant Hills

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