Advertisement
Business

Construction starts on Irvine’s Great Park development

Construction of a massive new project in Irvine consisting of nearly 5,000 homes and 1.2 million square feet of commercial space is underway, according to the company in charge of the effort.

FivePoint Communities Management Inc. broke ground on the Great Park Neighborhoods project Tuesday.

The development sits on the site of the former El Toro Marine Corps Air Station. Irvine approved the first phase of the construction last year.

“With today’s groundbreaking, we are moving forward with the first phase of Great Park Neighborhoods. This demonstrates the value of the Irvine market and the commitment made by our financial partners,” said Emile Haddad, chief executive of FivePoint Communities. “All of us have been anticipating this day for a long time.”

Advertisement

A major feature of the development will be 23 miles of trails connecting the neighborhoods to a train station, schools, retail shops and nearby Cleveland National Forest.

FivePoint Communities will be in charge of managing the development of the homes. The city will build the Orange County Great Park.

ALSO: 

Eric Schneiderman promises aggressive financial fraud probe

Advertisement

California describes $25-billion mortgage settlement as ‘inadequate’

States are said to be considering a $25-billion settlement with big banks


Newsletter
Get our weekly Business newsletter

A look back, and ahead, at the latest California business news.

You may occasionally receive promotional content from the Los Angeles Times.
Advertisement