Landsea Homes, the U.S. arm of China-based Landsea Group, has acquired 1.2 acres adjacent to Lido Marina Village in Newport Beach, where the home builder plans to develop Lido Villas, a luxury townhome project featuring 23 3-story units overlooking the Lido Marina and Newport Bay.
“We are very excited about the recent purchase for our luxury townhome community in Newport Beach. It is a great new addition to our California portfolio and extends our company’s commitment to offer high-quality homes in some Southern California’s most highly desirable and livable locations,” said Greg Balen, president of Landsea Homes California.
Lido Villas will offer five floor plans estimated to range from 1,716 to 2,289 sqaure feet featuring spacious living areas and roof-top decks The community is proposed to open for pre-sales in late-summer 2018.
Lido Marina Village is one of the leading lifestyle destinations in the City of Newport Beach, long considered one of Southern California’s iconic coastal communities for its warm climate, casual yet sophisticated and affluent lifestyle, pristine beaches, vibrant tourist destinations and diverse cultural spirit.
Lido Villas will offer residents the convenience of living in one of the most walkable residential communities in the region – recently recognized with a walkability score of 86 out of 100. The village will also feature Lido House Hotel, an upscale, boutique hotel currently under construction. The hotel will feature 130 luxury rooms, a full-service restaurant, spa & fitness center meeting space and a rooftop deck & lounge with bay and ocean views.
Newport Beach is conveniently located to major employment centers in Irvine and South Orange County and is well known for its high quality residential communities, upscale shopping and entertainment centers, successful business community, excellent schools and a vibrant arts and cultural community. The city boasts a vibrant Bayfront and eight miles of beaches that offer outstanding fishing, swimming, surfing and a variety of aquatic and sports activities.
Landsea Homes purchased the land for Lido Villas from NPBay Investors, LLC and the transaction was brokered by Brandon Johnson and Erik Mykletun of Tierra Development Advisors.
