The Irvine Company’s Plan to Convert Offices into Homes in Newport Beach
The Irvine Company, a Newport Beach-based developer, has filed preliminary plans to convert 107,000 square feet of offices in the city into 700 homes. The project, located at MacArthur Court, will see the conversion of some offices into apartments, as well as the construction of two new apartment buildings.
Office-to-Home Conversion and New Apartment Buildings
The plan calls for the conversion of 107,000 square feet of low-slung office buildings at 4665 and 4685 MacArthur Court into homes. Additionally, the company will redevelop a parking lot to construct two five-story apartment buildings with a combined 677,900 square feet. The new apartments will surround a six-level parking garage.
Preservation of Office Space and Amenities
About 600,000 square feet of offices will be preserved at MacArthur Court. The Irvine Company will add a lawn between the new apartment buildings and the remaining offices, as well as 37,000 square feet of "recreational amenity areas."
Rezoning in the Area
The area near Costa Mesa’s John Wayne Airport is one of five regions that Newport Beach has rezoned for housing projects. The city has a state-mandated plan to build 4,845 homes by 2029, with 2,386 units designated as affordable for very low-income and low-income households.
Background on Affordable Housing Requirements
In August last year, Newport Beach cut its requirement for affordable homes near John Wayne Airport by half in an effort to attract developers. This move is part of the city’s efforts to meet its state-mandated affordable housing goals.
Conclusion
The Irvine Company’s plan to convert offices into homes in Newport Beach is just one of several housing projects in the area. The city’s efforts to meet its affordable housing requirements continue, with a focus on attracting developers to the region.
FAQs
Q: What is the total number of homes planned in the project?
A: The project will have a total of 700 units.
Q: How much office space will be preserved in the project?
A: About 600,000 square feet of offices will be preserved.
Q: What is the goal of the city’s affordable housing plan?
A: The city aims to build 4,845 homes by 2029, with 2,386 units designated as affordable for very low-income and low-income households.
