Brandywine Homes Announces First Multifamily Development
- Dec 14, 2012
Garden Grove, Calif.—Brandywine Homes, a residential developer based in Irvine, Calif., announced its plans for its first multifamily development, the first of four apartment communities.
“The demand for rental properties is huge right now; the timing is right for Brandywine to be a part of that market,” Dave Barisic, vice president of sales and marketing, Brandywine, says. “Now that the economy is starting to improve people who have been living with their relatives or doubling up with friends are looking for their own place—and they’re hesitant to buy just yet.”
Brandywine will break ground on a 25-unit development in Garden Grove, Calif., featuring two- and three-bedroom townhomes and flats in January. The townhomes, which will be designed by LSA Architecture, will range in size from 900 to 1,360 square feet. The apartments will feature granite countertops and in-unit washers and dryers.
Amenities for the community will include a tot lot and a barbecue area.
Though Brandywine is venturing into the multifamily market, the company will continue primarily in the single-family arena, with plans to double its home production over the next two years.
“One thing we learned over the downturn was that diversifying can never hurt, and it would have been a lot more comfortable over the past five years if we would have had some sort of income-producing property in our portfolio,” Brett Whitehead, president, Brandywine, says.
Construction for the first apartment community is expected to be completed in late 2013.