Office vacancy rates may be climbing, but...
Office vacancy rates may be climbing, but many people think apartment vacancies are on their way down again. The Irvine Co. says its three apartment complexes at Irvine’s Westpark are renting well, and it has begun construction on a fourth, the 426-unit San Marco Apartments.
Westpark is an Irvine Co. community of houses, condominiums, townhouses and apartments that will also include Irvine’s City Hall.
Many in the real estate industry expect demand for apartments to grow still stronger in the county as housing prices rise steeply.
The apartments, which open in late summer, will rent for between $700 and $1,150, the company said.
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