Irvine Mulls Developer’s Offer to Build Orange County Great Park
- September 14, 2012
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FivePoint Communities, the developer of the former Marine Corps Air Station El Toro, is offering to contribute an additional $631 million to the city of Irvine’s effort to build the Orange County Great Park in Southern California in an attempt to bolster prospects for the housing and commercial development it plans to build there. Under the offer from FivePoint — a spinoff of Lennar Corp., which bought El Toro for $650 million in 2005 — the city would receive $211 million upfront and about $430 million over 30 years …

