Newport Beach : ‘Mouth of Big Canyon’ Given City by Irvine Co.
In a dedication ceremony at the edge of Upper Newport Bay Thursday, the Irvine Co. transferred ownership of a 55-acre wildlife refuge to the City of Newport Beach.
Known as the “mouth of Big Canyon,” the property is one of the largest undeveloped pieces of land in the Newport Beach area, according to a company spokeswoman.
In exchange for the wildlife refuge, the Irvine Co. will receive five acres of “park credits” that can be used to meet the park and open-space requirements for future residential projects the company builds in Newport Beach.
Developers are required to set aside one acre of parkland for every 100 apartment units they build.
“This land will now be available for the permanent recreational enjoyment of future generations of Newport Beach residents,” Irvine Co. President Thomas Nielsen said in a statement.