These people clearly havent looked at what houses in Orinda are selling for these days, but 2MM for 2500sqft house is almost double what they are selling for right now...and that is for a remodeled home...not a fixer. Maybe they could get 2MM for a 2500 sqft house in Marin or the Peninsula, but not in Orinda. They are planning to build 245 2MM ++++ homes there over the next 5 years. The funny thing is they are trying to market to young families. They said 80% young families and 20% empty nesters. I think it will be the other way around or they will have to lower the prices to enter the neighborhood.
It isn't even a gated neighborhood, they aren't planning to put even a grocery store or cafe up there to serve the community, and you have to get on the freeway anytime you need to run an errand since the only way in and out of the place is a freeway exit, which is ridiculous.
Unless they plan to sell 1 house every 6 months if that...at a 2MM starting price point, I really dont feel these developers are in reality yet about Wilder or the type of people who move to the east bay. For 2MM...you could buy a nice place in Tiburon, have better weather, and avoid the traffic.
As Suzanne stated before, the original developers had defaulted on their loan. However, I recently heard from one of the parties who are working on it, that they proceeding forward again. I don't know if they are taking reservations again for lots, but I do know that grading and site work has started back up again.
There was an article in the CCTimes recently that stated they were having financial difficulties and had defaulted on their loan. The neighbors are not too happy about it. I'm not sure of their future, but I do believe they are hoping to move forward.