The two development will be called Sorrento Heights and Sorrento Terrace. Linky to Pardee site. The SFR will start in the mid $600k. The size will be between 2100-2500 sq-ft and the average lot size will be ~4500 sq-ft. This will definitely be the highest price home in Mira Mesa. Will be interesting to see if they can sell for this price. If they can, how will it affect houses around this area.
Also, it turns out that part of 92121 (east of the 805) is still technically Mira Mesa. The Mira Mesa Town Council is trying to fix the naming problem and reclaiming the area we all thought is Sorrento Valley. Here is the info about this effort.
