The Irvine Company has received approval to build 1,261 apartments on the Irvine side of the third-largest outdoor shopping mall in Orange County.

The 79-acre site straddles Irvine and Tustin on the Irvine side of The Market Place at 2961 El Camino Real, according to a report in the Orange County Business Journal.

The outdoor shopping center, built in 1988, encompasses more than 120 stores, restaurants, cafes and theaters.

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