In their latest piece for Irvine Weekly, staff writer Evan J. Lancaster reports that Irvine’s Great Park Community Facilities District (Great Park CFD) and Heritage Fields are set to receive $1.2 billion in funding through 2030. The funding – to be split between the two entities – was approved to move forward at a meeting with the Great Park Board of Directors and Irvine City Council, during a vote on Tuesday, October 11, 2022. The funds will go towards park framework that was also just recently approved this past July, with amenities including a $130 million amphitheater and a 75-acre botanical garden.
“In a 4-1 vote, Irvine leaders opted to break away from the current agreement with FivePoint Holdings, the area’s most prominent developer, which has limited the city’s control over the park’s development for years,” writes Lancaster. “Now, in an effort to gain the necessary funding and developmental control over the Great Park, the city will reconfigure an existing agreement with Heritage Fields, a 4,700-acre master-planned community built on reused portions of the MASC El Toro, inside the Great Park.”
Read more on Irvine Weekly here.
