The Orange County Board of Supervisors will consider the proposed El Toro Parcel Development Plan for the 100-acre property. It is located just north of Interstate 5 and just east of California State Route 133 in and around Irvine, California.
This 100-acre parcel is near Orange County Great Park and Irvine Spectrum Center. The real estate development plan by Lowe Enterprises allocates almost 2000 multifamily units, up to 1 million square feet of office space, 200 thousand square feet of retail space, and a 242-room hotel.
This project would redevelop a portion of the former El Toro Marine Corps Air Station which closed in 1999. It is projected to create about $2.5 million in one-time sales tax revenue, about $1.6 billion in annual economic activity, and more than 9000 jobs. It is also expected to reduce vehicle trips by 25%, support mass transit, and create more affordable housing.