City Update Recap

By: Lea Vatenmakher Communications Specialist

On April 17th, OC REALTORS® hosted an Irvine City Update featuring Irvine City Manager, Oliver Chi, at our Fountain Valley office. The event, which was hosted by our Local Government Relations North Committee Chair Heidi Twitchell and Vice Chair Thomas Lotts, was a huge success with a wide attendance and invaluable insights into Irvine’s real estate landscape.

Oliver Chi provided updates on several significant development trends. This included progress on the City General Plan & Zoning Code Update moving forward for review – and, hopefully, approval – this coming summer. New residential developments, totalling the equivalent of roughly 39,000 housing units, are being master planned for the Irvine Spectrum area, by the Irvine train station, and in the IBC. Furthermore, Irvine’s Great Park development – the city’s $1 billion metropolitan park project – is under construction. Additionally, the city is set to transition to district-based elections with 6 council members and 1 mayor this December.

Residential Expansion in Irvine

Great Park Neighborhoods

• New homes currently on the market by Pulte, Tri Pointe, and Lennar

• Lennar, Taylor Morrison, and Toll Brothers will begin further building in 2025

Reserve at Orchard Hills

• One remaining housing tract in the Reserve at Orchard Hills

• Building of this development will be completed by KB Homes

Portola Springs

• 1,500 housing units are yet to be constructed in Portola Springs

• Building will be completed by Shea Homes, New Home Company, and California Pacific

Orchard Hills The Summit

• High-end, guard-gated community featuring 520 units, with some of the best views in Irvine

• New residential village model will open mid-2025

• Building will be completed by Shea, Brookfield and Toll Brothers

Gateway Residential Village

• New project developed by the Ciy, in partnership with Brookfield

• 1,200 units are set to be delivered adjacent to a 700-acre, pristine, open-space preserve