The Irvine City Council last month tentatively endorsed a mixed-use general plan for about 1,250 acres at the former Marine Corps Air Station El Toro in Southern California, approving 4,894 homes and more than 1 million square feet of nonresidential space.
Developer FivePoint Communities plans to break ground later this year, with the first homes in the “Great Park Neighborhoods” completed in 2013, reported the Los Angeles Times. Other elements of the developer’s plan include parks, shopping areas, trails to the Orange County Great Park, a school and other amenities. The agreement reached also provides the city with $40.5 million over five years in infrastructure improvements for the Great Park.
FivePoint Communities owns an additional 1,000 acres at the Great Park but has not released a plan for that section. The Aliso Viejo, Calif.-based firm is an independent real estate development company jointly owned by Emile Haddad and Lennar Corp.