Construction Begins on Massive Irvine Community
New project in Irvine, CA on former Marine base will have nearly 5,000 homes and 1.2 million square feet of commercial space.
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."
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.
Click here to visit the community Web site.
Source: The Los Angeles Times
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