In a decade, Great Park Neighborhoods has grown to be home to a signature park, four schools and more than 6,000 families, and as part of celebrations Tuesday, Sept. 26, marking its anniversary in Irvine, developer FivePoint announced details for an eighth neighborhood.
Luna Park is slated to be a 770-home, master-planned neighborhood right around the corner from Portola High School in the southeast corner of the Great Park Neighborhoods. Lennar is the builder on this project, with construction expected to begin early next year.
FivePoint CEO Dan Hedigan, who took leadership in 2022 after founder Emile Haddad stepped away to become a senior adviser, announced details of the neighborhood to gathered city, school and community leaders Tuesday after a long intro that shared his roots in the Irvine community.
“I have seen what this area of Irvine once was, and now it has become beautiful and a much more valuable use of this asset and land,” he said, a nod to the development of the shuttered Marine Corps Air Station El Toro into the residential community with the Great Park, Orange County’s largest municipal park, at its center. “I look around and can’t believe what I see.”
The base was closed in 1999 and in 2003, the inaugural Great Park corporation met with plans unfolding to start building the community. But not until 2013, did ground break for the Great Park, and since then, the neighborhoods have rapidly expanded, offering a mix of luxury high-end collections to mid-level single-family residential homes.
Developer FivePoint has sold to homebuilders some 8,000 of the 10,500 units the Great Parks Neighborhoods is entitled to, though not all have started construction.
And, the Great Park now boasts a completed 194-acre sports complex with various ball fields, a soccer stadium and sand volleyball courts; trails; an arts pavilion; and, most recently, the Wild Rivers waterpark. City leaders took a new look this year at future amenities still to be…
Read the full article here
