News
100 ACRES TO PLAY WITH
April 12, 2012
| We kick off Bisnow Orange County with the latest at the former El Toro Marine Corps Air Station. On Friday the County released an RFQ for a 100-plus acre site; for potential users, it's a blank slate. “It’s 100 acres in the heart of Orange County—that’s not something you can create just anywhere,” says Orange County manager of land development and renewable energy initiatives James Campbell. |
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| James (here with son Declan and daughter Brooklyn at Angel Stadium, where he's apparently the only adult) says the County was looking for the highest and best use and hired JLL to evaluate the market. “The recommendation was a long-term ground lease and not to sell the property,” he says. Last November, JLL and the Planning Center prepared a preliminary conceptual site plan and market assessment that evaluated residential, flex-tech/business park, hospitality, mini-storage, and educational/recreational uses. Through the RFQ, the County seeks to bring on a master developer partner to guide it through the "paper (entitlement) part of the process" and then enter into a long-term master lease. |
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| The site is part of the property that was given to the City of Irvine by Lennar (winner of an online auction some years back, which then transferred it to the County). It's south of the Great Park (well known for being one of the most conceited parks in the country) and west of Five Point Communities’ planned TOD. “We view this property as a window to the Great Park,” so a lifestyle center and hospitality are strong possibilities, he says. Additionally, while the County’s project is totally separate from Five Point’s, Supervisor Bill Campbell (no relation) has directed James’ team to work with both Five Point and the Great Park to come up with something that’s complementary with those developments. In May, a 17-acre lease with Wild Rivers, formerly located on Irvine Co land, is slated to come before the board. James notes the water park is a huge employer of 1,200 high schoolers per year. “We thought it was important to keep that in Orange County, and the revenue as well.” |
