BORROWING BIG BUCKS FOR CONSTRUCTION
Commercial and residential construction has flourished in Orange County for the past decade, but 1988 was a record-breaking year. Construction loans totaled $4.6 billion last year, up 39% from 1987’s $3.3 billion mark, and the outlook for 1989 looks even more robust. December, 1988, was the strongest month ever recorded for construction loans in the county. And, according to a TRW Real Estate Market Information official, only spiraling interest rates can slow the momentum. Here’s a look at where the money was spent around the county:
1988 Construction City/Environs Loan Dollar Volume Anaheim City/Anaheim Hills $490,226,347 Brea 61,243,789 Buena Park/La Palma 18,306,791 Costa Mesa 143,906,399 Cypress/Los Alamitos/Rossmoor 22,481,470 Dana Point 36,496,028 El Toro/Lake Forest 26,651,486 Fountain Valley 38,678,084 Fullerton 54,855,843 Garden Grove 62,864,087 Huntington Beach/Sunset Beach 167,172,374 Irvine/Silverado Canyon/Modjeska Canyon/ 402,384,374 Trabuco Canyon/Coto de Caza Laguna Beach 4,725,760 Laguna Hills 14,098,752 Laguna Niguel/South Laguna 257,192,548 La Habra 12,354,940 Mission Viejo 74,704,896 Newport Beach/Corona del Mar/Balboa Island 116,378,784 Orange/Villa Park 125,354,882 Placentia 7,720,592 San Clemente/Capistrano Beach 81,177,640 San Juan Capistrano 140,629,370 Santa Ana 112,654,034 Seal Beach 6,889,000 Stanton 1,256,660 Tustin/East Tustin/Cowan Heights/Lemon Heights 221,160,457 Westminster/Midway City 16,496,480 Yorba Linda 346,933,603 Miscellaneous Unincorporated 1,621,390,693
Source: TRW Real Estate Market Information
