Irvine CA Continues Expanding with More Residents, Jobs and Housing Needs
Irvine CA is in the top 10 cities for growth in the U.S. and keeps on expanding – now with about 230,000 residents.
Master-planned since its start in 1971, Irvine was ranked eighth in the country for growth and first in California as it grew by 4.2 percent to about 231,000 residents by the end of 2012.
Irvine is the largest city geographically in Orange County, is third in population, and sells lots more real estate than any other city in the area.
Homes at Irvine were designed as part of geographic center of the city – with industrial buildings and office space bordering surrounding.
Growth is expected to bring with it more than 8,600 students for public schools by 2016 – or 16,651 by 2022 – according to Irvine Unified School District projections, which plans for seven new schools by the end of 2020. Key for balancing growth with quality of life is top-ranking schools, lots of open space and streets that are not too jammed with traffic.
Irvine had about 53,712 homes in 2000 – and today that’s closer to 85,000 homes (which is still not enough homes to keep up with buyer demand). The Irvine Company is the largest private landowner, which had 774 new home sales in 2011 and more than than 1,400 in 2012.
The Irvine Company (private real estate developer) is still building homes and plans to expand its housing developments. Five-Point Communities is another developer at Irvine – which has sold lots for 726 homes to be built near the Orange County Great Park, the first among about 5,000 total.
With about 200,000 jobs according to Mayor Steven Choi, Irvine has more jobs than people over the age of 18, and the unemployment rate is very low at 4.9 percent. Irvine’s ballooning population is a primary reason for its booming home selling markets.
Source of information is OCRegister.com.
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