Brookfield San Diego is betting the region still needs new homes, and the housing market is making a comeback.
The longtime builder announced Oct. 6 it broke ground on the first master planned community since 2006 in Carlsbad, east of El Camino Real.
President Steve Doyle said the first phase of the development called The Foothills consists of 400 homes ranging in price from about $500,000 to $700,000.
Construction has already begun on a recreation center featuring a pool, picnic area, paddle courts, even a yoga exercise circle.
The grand opening of the development is planned for the first quarter of next year. A second phase that includes about 600 units and a community shopping center is also planned.
Says Doyle: “We feel strongly about the Carlsbad market.”
Doyle wouldn’t reveal the build-out cost of the project, but says he’s got financing through Wells Fargo Bank.
, Mike Allen
