IRVINE, CA—FivePoint Communities has begun historic demolition of former military runways at the Orange County Great Park here, the first phase of a $250-million improvement program that will accelerate construction of a wide range of new sports, recreational and environmental amenities at the park. The firm, which is the development manager of the master-planned Great Park Neighborhoods, will develop 688 acres of the Great Park’s nearly 1,300 acres as part of an agreement approved by the Irvine City Council in November 2013.

All of the improvements will be funded privately by FivePoint, but they will be returned upon completion to the City of Irvine as public amenities. The agreement also includes provisions that allow the City of Irvine to realize more than $1 billion over 40 years for Great Park operations and maintenance.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2023 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.



Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join now!

  • Free unlimited access to's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2023 ALM Global, LLC. All Rights Reserved.