Will the Great Park be Canceled? or just Delayed a while?

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Well I did get a Great Park email update yesterday - talking about a "celebration" going on near the Great Buffoon, uh, I mean, Balloon. April 19th. Don't know if that means an update on the housing areas, though.
 
Anybody else notice the brand new signs all around the Great Park? Now it's no longer Heritage Fields. Wonder if that means they're actually going to start building anything any time soon?
 
There's a front page article in today's LA Times about the stalled development of the Great Park.



Looks like Lennar is likely going to default on some milestones that were set for development (golf courses), but I'm not sure I read in the article what, if any, are the consequences for them are if they fail to meet these benchmarks.



The article states that Lennar is trying to re-wrangle the agreement, hindsight now showing them that they've bitten off more than they can chew. The article also mentions rumors that Lennar is up for sale. I wonder what will happen to the plans/obligations if Lennar is bought out, or goes under?



The whole point of this plan with Lennar was for Irvine to get this "Great Park" without using public money. But if Lennar bows out, and the city of Irvine is determined to have this feather in its cap, I'm betting the residents are going to end up shouldering the bill. I hoping it will have to go up for vote again, and not just get foisted on us.
 
<a href="http://www.latimes.com/news/local/orange/la-me-greatpark12apr12,1,7160969.story?track=rss">Here's a link to the LA Times story mentioned above</a>
 
Lenar paying over a billion dollars and have not built one house? Lenar will fold and or be bought out here in the next year then what? With residential and commercial RE in the tank and the OC the number one county in the country with the most job loss you get to enjoy that 27 acre park and a balloon ride for the next 5 years till the market comes back. Maybe they can use the land in the meantime for the circus to visit. Oh, i forgot the Great Park circus is in town...
 
[quote author="OCCOBRA" date=1208128372]Lenar paying over a billion dollars and have not built one house? Lenar will fold and or be bought out here in the next year then what? With residential and commercial RE in the tank and the OC the number one county in the country with the most job loss you get to enjoy that 27 acre park and a balloon ride for the next 5 years till the market comes back. Maybe they can use the land in the meantime for the circus to visit. Oh, i forgot the Great Park circus is in town...</blockquote>


oh ho ho ho ho, *zing!*, i like you.
 
Since the forum got onto the topic of the Airport, I'd like to clarify a few things. I fly out of John Wayne (SNA) a couple of times each month. I laughed during the last vote when they said the airport was under utilized. Why? Because I've been stuck in planes for 15 minutes after landing while they wait for a gate to open up. Sure enough, after the final vote, we get the bill for raising the cap. limit on SNA to the tune of a $500 million terminal expansion. All to handle regional flights since it's unlikely that any plane larger than a 757 is going to fit between the 405 and Bristol street constraints on the runway.
 
bigmoney - sorry for not responding sooner. I wanted to double check the signs on my way to work this morning. The new signs say "Great Park Neighborhoods" with a pic of a bicycle and then "<a href="http://greatparkneighborhoods.com">greatparkneighborhoods.com</a>" along the bottom.
 
[quote author="irvinesinglemom" date=1208255145]bigmoney - sorry for not responding sooner. I wanted to double check the signs on my way to work this morning. The new signs say "Great Park Neighborhoods" with a pic of a bicycle and then "<a href="http://greatparkneighborhoods.com">greatparkneighborhoods.com</a>" along the bottom.</blockquote>


Thanks!
 
My alias is now registered for all the marketing propaganda at my trash email address. I can't wait for their spin :roll: :roll: :roll:
 
Does anybody know what the RVs on the EL Toro/Great Park site are for? For the construction crews nearby? Migrant workers that pick the nearby fields? FEMA trailers? They've been there for months.
 
Actually, the land has been serving as private RV storage. Supposedly the lease was to run out this year, but since things have slowed down, the lease might have been renewed. We have some friends who store their RV there because their HOA won't let 'em keep it at their place.
 
Thanks Eva. Good to know. I have been wondering for months as I drive by it everyday. Once again IHB solves a mystery for me :)
 
"Bulldozers will begin leveling land near the Great Park as early as October to make way for the first of three mixed-use communities, but homebuilder Lennar Corp. has said it had stripped 800 residences from its initial plans for the 953-acre Lifelong Learning District." www.ocregister.com/articles/lennar-park-early-2023574-homes-district
 
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