🚨 Irvine Real Estate Development Update 🚨 A major new housing project could redefine the Irvine Business Complex and reshape the Orange County real estate market. At Von Karman Avenue and Alton Parkway, a proposed development calls for 426 new for-sale homes:✔️ Stacked flats (1–3 bedrooms, 712–1,442 sq ft)✔️ Duets (3–4 bedrooms, 1,833–2,203 sq ft)✔️ Townhomes (2–3 bedrooms, 1,357–1,665 sq ft)✔️ Detached homes (3–4 bedrooms, 1,674–2,150 sq ft)This mix of housing types is designed to appeal to first-time buyers, families, and investors alike. City staff estimate the project could generate $500 to $660 million in sales, given Irvine’s current median condo and townhome prices ranging from $1.2 to $1.55 million.The backstory matters. This land, known as the Von Karman Corporate Center, was once planned for industrial warehouses. But after city officials expressed concern about too much industrial growth, IRA Capital pivoted toward residential housing. Under the city’s agreement, if the project is delayed or denied, the city itself must purchase the property for $317.5 million — an unheard-of $12.5 million per acre infill valuation.With Irvine recently rezoning the Business Complex to allow up to 15,000 homes, this project signals a long-term shift toward more housing, higher density, and mixed-use living.📲 Share this update with anyone who cares about Irvine housing or Orange County real estate trends. Whether you are a local homeowner, a prospective buyer, or a long-term investor, these developments will impact affordability, availability, and future appreciation.Source: OCBJ.comRick J. LeeRealtor @ ΓEA⅃ BrokerCell: (714)-943-1598DRE # 02130981NMLS 2561007#IrvineRealEstate#IrvineLiving#IrvineHousing#IrvineCondos#IrvineBusinessComplex#VonKarman#AltonParkway#OrangeCountyRealEstate#OCHomes#SoCalRealEstate#CaliforniaHousing#HousingCrisis#HomeBuyersOC#InvestInIrvine#RickLeeRealtor#LocalRealtor#OCHousingMarket