Irvine Office Park Chosen for Residential Towers Project

A Canadian developer on Thursday announced plans to begin construction early next year on twin, 18-story condominium towers in Irvine in what will be Orange County’s first major high-rise residential project.

An affiliate of Vancouver-based Bosa Development Corp. will build the towers on a 2.3-acre parcel it recently purchased at Park Place, a sprawling office complex that features the former Fluor Corp. headquarters at Jamboree Road and the San Diego Freeway.

The project, which will be called Marquee at Park Place, includes 120 units in each tower. Construction plans have been submitted to city officials for review.

Prices for the development’s two- and three-bedroom units have not been established, but Bosa’s high-rise condominiums in San Diego sell for between $300,000 and $1 million, said company spokeswoman Gale Tobin.

Sales and construction are scheduled to begin in the spring.

The Los Angeles and San Diego areas are home to numerous high-rise residential projects, but such buildings are rare in Orange County, where most luxury complexes have remained low-rise structures, said real estate consultant John Burns. “There is nothing like this in Orange County,” he said.

In downtown San Diego, Bosa has completed or is nearing completion on three high-rise condominiums and has begun construction on the first of two 39-story towers near the historic Santa Fe Depot.