The Orange County Board of Supervisors on Tuesday approved a plan to develop more than 100 acres of county-owned land at the former Marine Corps Air Station El Toro in Irvine.
The agreement with Los Angeles-based Lowe Enterprises lays out a three-phase plan for the property, which is adjacent to Irvine's Great Park.
The board also approved funding for the first phase and business plan, which includes environmental reviews and the development of a master plan to guide how the area is used, according to a county news release.
The first phase is expected to take about two years to complete, the release said.
At the meeting, Supervisor Todd Spitzer lauded the step.
"My colleagues and I are very excited about this partnership with Lowe and the prospect of developing this great taxpayer asset," he said. "Creating a vision, value and long-term revenue is our goal."
He added that the county would work collaboratively with the Irvine, which oversees the park.
Spitzer represents District 3. The district includes the former airfield, which closed in 1999.
— Jill Cowan