Irvine CA City Council Approves Developer Agreement for New Homes Near the OC Great Park

 

The Irvine CA City Council on September 13, 2011, approved an agreement requiring a developer of homes at adjoining property near the Orange County Great Park to provide $40.5 million in funding over the next six years to the city.

This agreement also requires Heritage Fields El Toro LLC — developer of Great Park Neighborhoods, with 4,900 new homes proposed, which will be around the Great Park by 2013 — to speed up construction of park and neighborhood infrastructure, build two hotels and a $5 million joint welcome center for the park and neighborhoods.

The agreement also reduced the size of planned Upper Canyon feature laid out in the park's Master Plan and allows for road crossings through the canyon.

Irvine and Orange County are fortunate to have this project and ORANGE COUNTY GREAT PARK ready to move forward, and it's expected to stimulate the economy and help create jobs.

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Harrison K. Long - solutions for real estate and business - REALTOR® and broker associate, GRI - Coldwell Banker Residential Brokerage - 949-854-7747 (phone) - ExploreProperties@gmail.com(email) - CA DRE 01410855 - SFR short sale and foreclosure resource certified by the National Association of REALTORs® - also now serving as an appointed director at the California Association of REALTORs®

     

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