Cornerstone Communities sold almost every home in its portfolio in 2021, clearing the way for new residential communities that will supply at least 630 new homes in San Diego County
The La Jolla-based homebuilder closed escrow on 306 single-family and townhomes last year and closed out eight communities in San Diego and the Inland Empire for a total gross revenue in excess of $206 million. Company officials credit their entire office, field and sales teams for working so efficiently together.
“2021 was defined as a year of decision-making for new home buyers in San Diego,” said Ure Kretowicz, CEO and chairman of the board at Cornerstone Communities. “Leading up to Covid many potential Millennial homebuyers were on the fence regarding their timing for purchasing a new home.” Ure noted that the pandemic encouraged buyers to decide now was the time to purchase a home.
The momentum will continue into 2022 when Cornerstone opens Laurel Heights with 80 new single-family townhomes in Santee and Summit Estates with 30 high-end view-oriented estate homes in La Mesa. Another community set to break ground this year is a 450-home master plan with four distinct neighborhoods in South San Diego. Cornerstone has several other projects in its pipeline which include new communities in Poway, Sorrento Mesa, and San Marcos.