LANDSEA HOMES PURCHASES HIGHLY DESIRABLE LAND FOR TOWNHOME DEVELOPMENT IN NEWPORT BEACH

Community will offer 23, 3-story luxury townhomes next to Lido Marina Village

Irvine, CA – October 24, 2017 – Landsea Homes, one of Southern California’s newest home building and development companies, is rapidly growing its portfolio of high-profile communities in the region with the recent purchase of 1.2 acres adjacent to Lido Marina Village, one of the region’s most desirable lifestyle shopping and entertainment destinations.The upscale production 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 of Southern California’s most highly desirable and livable locations,” said Greg Balen, President, Landsea Homes California.

Lido Villas will offer five distinct floor plans estimated to range from 1,716 to 2,289 square feet. These new homes will feature spacious living areas and roof top decks for residents to enjoy the bay breezes and views.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.