All eyes next month are on Disneyland’s $1 billion opening of Star Wars: Galaxy’s Edge.
As thrilling as that will undoubtedly be, we’re also keenly watching 2 miles east of Disneyland, an area called the Platinum Triangle. It’s an 820-acre development that generally encompasses the City National Grove of Anaheim concert hall, as well as Angel Stadium and the Honda Center, home of the Ducks. It’s an area known for parking lots for fans of the two teams.
Anaheim, the county’s largest city by population, is promoting the area’s potential as similar to Golden 1 Center in Sacramento or the L.A. Live entertainment complex next to the Staples Center in Los Angeles.
What’s intriguing is that Henry Samueli, who became a billionaire by
co-founding semiconductor maker Broadcom, is making a real estate play. Henry and his wife, Susan, who both own the Ducks hockey team, have spent nearly $200 million in the past year or two to acquire or control more than 75 acres to the immediate east of the Orange (57) Freeway near the Honda Center, running north from the regional transportation center, also known as ARTIC, to Ball Road.
They’ve dropped more money on buying nearby land than on the Ducks, which they bought in 2005 for about $75 million from Walt Disney Co. That investment paid off as the team is now worth an estimated $460 million, according to Forbes.
There are plenty of potential entitlements available in the Samuelis’ area, which falls within the Platinum Triangle zone.
To date, apartment development—roughly 3,500 units—has made up the bulk of new construction in the Platinum Triangle over the past decade. Nearly another 1,900 residential units are in various stages of development, city filings indicate.
When built out, the Platinum Triangle could hold about 17,500 residential units, 9.2 million square feet of office development and another 4.8 million square feet of other commercial property types.
What’s businesses are currently in the area?
Inside Prospects owner Bob Larking provided a deep dive for the Business Journal. He noted that there are plenty of lawyers, as the area holds 42 of the city’s 108 legal offices. The majority of Anaheim’s Class A building tenants are in the Platinum Triangle.
What doesn’t it have? It lacks shopping capacity as there are only 18 stores for clothing, shoes and other accessories, compared to the citywide number of 95. Maybe a shopping center could fit into the Platinum Triangle?
— Peter J. Brennan
