Pros of Developing Within a Master Plan

TUSTIN, CA—One of the advantages of developing within a master-planned community is that developers can rely on the master-planning entity for infrastructure investment and coordination of all the moving parts, Lincoln Property Co.‘s EVP Kevin Hayes tells GlobeSt.com. As we recently reported, the City of Tustin recently entered into an exclusive negotiation agreement with Lincoln, a Dallas-based real estate developer with Southern California offices, to pursue development for Cornerstone I at Tustin Legacy—a proposed creative-office campus that would be built on 37 acres of land at the southwest edge of Tustin Legacy, a master-planned community. Based on a proposal presented to Tustin by Lincoln, approximately 760,000 square feet of creative-office space is proposed along with almost 100,000 square feet of support uses, a food hall, supporting retail, outdoor meeting and gathering spaces and structured and surface parking. We spoke with Hayes about the development and the challenges to creating the project.

GlobeSt.com: What are the challenges to developing such a complex and large project as Cornerstone I?