ANAHEIM, CA—LT Platinum Center, the roughly $450-million mixed-use community proposed near Angels Stadium—which has been unanimously approved by the City of Anaheim—was stalled by the recession, but is back and better than ever, Allen Matkins partner Bill Devine tells GlobeSt.com. Devine was instrumental in getting the project through the entitlement process.

LT Platinum will generate $1 billion in total economic progress for the region, according to Allen Matkins. Proposed by LT Global Investments Inc.—a Los Angeles-based subsidiary of LT Commercial Real Estate Limited, a Hong Kong-listed company—the 14.8-acre development is a true mixed-use community, now entitled to include 150 for-sale condominiums, 255 market-rate apartments, 433,000 square feet of commercial space, 77,000 square feet of office space, a 200-room hotel, an urban park and people space and roughly 3,200 parking spaces.

The residential condominium tower would be the tallest in Orange County, the firm reveals. Proposed at roughly 350 feet (approximately 28 to 30 stories), it would include up to 150 units with views to the Pacific Ocean, mountains, Los Angeles skyline and Angels Stadium. The apartment complex is likely to include units from less than 1,000 square feet to more than 2,000 square feet.

Potential commercial tenants and partners include a high-end grocer, luxury cinema, fitness center, signature restaurants, independent and brand-name restaurants, neighborhood-serving retail, boutiques, high-end hotelier and other opportunities. The project is adjacent to the Anaheim Regional Transportation Intermodal Center, a transit hub that may bring high-speed rail from San Francisco to Anaheim. It is also roughly four miles from the Disneyland Resort and immediately adjacent to the home field of the Los Angeles Angels of Anaheim, a Major League Baseball team. It has immediate access to three major Interstates and highways as well as numerous local transit networks.

The project also sits at the heart of Anaheim's Platinum Triangle, an 820-acre master land-use plan approved for nearly 20,000 residential units, 4.5 million square feet of commercial space, 9 million square feet of office and 1.5 million square feet of institutional uses. It is expected to have nearly 30,000 residents at build out.

We sat down with Devine to discuss the project and its potential impact on Anaheim and Orange County.

GlobeSt.com: What does this project mean for Anaheim and Orange County as a whole?

Devine: For Anaheim, it's a big deal because it really is something that was part of their initial vision for the Platinum Triangle. But there were some starts and stops along the way, then the recession, which lasted a long time, which caused a pullback from what was envisioned there. Then this project came along, and it creates the possibility for a lot of momentum for the stadium and the general area. The City is really happy about it because it really goes beyond what their initial vision was for the Platinum Triangle. They hope this will be a spark for other development; it's being closely watched and monitored by a lot of folks. The parking area around the stadium is part of the ultimate development since the Angels own the parking rights, so this will have to be sorted through.

GlobeSt.com: What were some of the challenges you encountered during the entitlement process?

Devine: Probably the first big challenge was trying to figure out how the districts would work because a number of districts had been established in the Platinum Triangle, and the City had assumed a certain type of development would take place. This was envisioned beyond that scale. They moved some retail, office and residential essentially from other districts into this particular area, and we became part of the stadium district also. There were a lot of moves that had to change. It was a creative effort working with the City and coming up with a concept that worked with the existing Platinum Triangle and went beyond what was established.

Also, dealing with traffic issues is always a challenge, working through various traffic models. It took time and close coordination between our traffic consultants and the City to come up with a plan with which everybody was comfortable.

The third element was working with the Angels. Since this project is right on their front door, they wanted to understand how our operations might affect their operations, so we had to work that out as part of the approval process. The City did give a three-week continuance to the originally planned city council hearing to sit down with the Angels and work out the details, which we did. We worked closely with the Angels and came up with something with which everybody is happy.

GlobeSt.com: How is this project being viewed by residents and stakeholders in the area?

Devine: Because of its location, we didn't really get any particular feedback or input from residents. This was formerly primarily an industrial area, so the idea was to bring more residential in. There is residential going in across the street on two of the corners from this project; there's a multifamily project, and a William Lyon multifamily project right next store as well. Both projects are either in construction or have not yet started construction. So, we didn't have any adjacent residents involved in going through the process or raising questions, and we really didn't get any significant opposition from anyone out there. The only real existing ongoing operation was the Angels.

GlobeSt.com: What else should our readers know about this project?

Devine: It's going to be probably the first really big mixed-use entertainment center in Orange County. Probably the only comparable-type facility we have in Southern California is the Staples Center up in L.A. This will be the first really big multi-use attraction in the region. The condo building is about 350 feet and may be the tallest building in Anaheim. This will be the first residential project in a big area adjacent to entertainment, retail and sports facilities. The Ducks occupy a facility not too far away, and there's Disneyland. It will also have a hotel, so it will serve a variety of functions. There's nothing like it.

We sat down with Devine to discuss the project and its potential impact on Anaheim and Orange County.

GlobeSt.com: What does this project mean for Anaheim and Orange County as a whole?

GlobeSt.com: What were some of the challenges you encountered during the entitlement process?

GlobeSt.com: How is this project being viewed by residents and stakeholders in the area?

GlobeSt.com: What else should our readers know about this project?

Instant Insights /

LT Platinum Center Will Surpass Initial Vision

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