The New Home Company has introduced a community of high-end luxury homes in the Eastwood Village portion of Irvine Ranch, according to a report by Builder Magazine. Three model homes will debut August 12.

Called Morro, the community includes 40 single-family homes with contemporary architecture and floorplans by LCRA Architects. Each residence ranges between 3,513 and 3,794 square feet, with up to five bedrooms and five-and-a-half bathrooms. Prices for the homes are set to begin near $1.5 million.

Rendering Courtesy of the New Home Company

Morro is the most recent development from the New Home Company in Orange County. Several communities have opened in Irvine already, and the company will also be involved with an additional development in Rancho Mission Viejo. All of the existing properties have already been priced at $1 million or higher. The Rancho Mission Viejo homes have not yet been priced.

This latest community will be located less than four miles from Orange County Great Park, which is evaluating options for development that will enhance city resident amenities. It’s just east of the U.S. Interstate 5 freeway and to the west of Irvine Boulevard.