Builder Plans 14 New Homes in South County

Fieldstone Group is restarting its local homebuilding operation from Irvine with plans for 14 new homes at two sites in South County.
Led by CEO William McFarland, a former Irvine Co. vice president, Fieldstone has acquired home sites in Dana Point, Rancho Santa Margarita, Encinitas and San Marcos. Fieldstone’s roots date to 1981, historically building 26,000 homes in Southern California, Texas and Utah.

• In Dana Point, Fieldstone is taking over a previously failed project and building at The Cove at Dana Point — “a cozy enclave of six architecturally distinct homes ranging in size from 3,100 to 3,600 sq. ft, and many with ocean views. The homes will be available for sale in early 2011.” The project’s website notes homes will have up to 5 bedrooms.
• In Rancho Santa Margarita, Fieldstone will work on a rare undeveloped property building “eight homes on large view lots that will have both the benefits of a small private cul-de-sac street and also be part of the large master planned community of Trabuco Highlands with all its amenities. The new single-family detached homes, all of which boast mountain or valley views, will average 3,500 sq. ft. on large 7,400 sq. ft. lots and be open for sale in January 2012.”

“Fieldstone is back on the offense and we’re opportunistic -– we are nimble and flexible, and able to consider a wide variety of project sizes, locations and financial structures,” said David Greminger, president of California operations of Fieldstone.