Irvine Co. has reversed course on development plans for the former Traveland USA site on the edge of the Irvine Spectrum area.
A nearly 35-acre parcel of land the developer owns near the intersection of the Santa Ana (5) Freeway and Sand Canyon Avenue is set to become a new low-rise office project called Innovation Park.
The collection of 15 small-sized buildings at the project will total about 550,000 square feet, the Newport Beach developer told the Business Journal last week.
By comparison, that’s roughly the same size as Trammel Crow Co.’s two-building Boardwalk development in Irvine, the largest office project built near John Wayne Airport the past few years.
The former Traveland site, now vacant, was previously being eyed as an affordable apartment rental project. Irvine Co. changed course after a zoning change required for the housing project faced opposition by the city.
Construction on Innovation Park could begin by the end of this year. Irvine Co. is aiming for a mid-2021 opening.
Spectrum’s Surge
Innovation Park adds another notable project to the lengthy list of recent office development by Irvine Co. in the Spectrum.
Orange County’s dominant real estate company has pursued an aggressive ground-up office development push in the Spectrum area over the past four years; a good portion of that work has taken place within a mile or so of the latest proposed project.
The Business Journal has estimated the company’s investments in new office buildings in the Spectrum—now running more than 2 million square feet—to have topped the $800 million mark the past few years.
The company’s added a pair of office towers along Spectrum Center Drive, and numerous mid-rise buildings at its Discovery Park and Sand Canyon Business Center office parks that are just down the street from the former Traveland site.
A few miles away, the company is close to opening its latest development, Spectrum Terrace, a collection of mid-rise buildings just off the San Diego (405) Freeway whose first phase will run about 330,000 square feet.
The Spectrum Terrace site is about 73 acres, about the same size as Fashion Island in Newport Beach, which Irvine Co. also owns.
Change of Plans
Innovation Park will be located on part of the nearly 60-acre collection of parcels that long held a Traveland USA RV mall and family entertainment center. The land, just south of the (5) Freeway, has been vacant for several years.
Traveland operated on a portion of the site from the mid-1970s until 2012, when its lease wasn’t renewed. The property, zoned for commercial development, was later razed.
About two years ago, the Business Journal was first to report that Irvine Co. was looking to rezone the site from commercial uses to housing.
Early stage plans were filed with the city to develop up to 1,710 rental units in a project targeting middle-income earners. Teachers and workers at the nearby medical facilities along Sand Canyon Avenue were seen as likely residents.
That project faced questions over traffic and congestion issues—it would have increased the maximum number of residential units permitted in the immediate area from 9,481 to 10,824. A general plan amendment required for the housing project was not approved by the city.
The plans for Innovation Park are consistent with the current zoning plans for the site, according to Irvine Co.
The project will aim to address some of the same traffic-related issues brought up during the housing development discussions; it will be serviced by Spectrumotion, an organization that works with commuters to promote carpooling, vanpooling, cycling or use of the Metrolink, according to Irvine Co.
The remaining 25 acres of the Traveland site that will not be part of Innovation Park is expected to hold commercial development, although specifics have not yet been disclosed.
Irvine Co. officials said future plans for that portion of the land will be based on market demand.
Office Hub
The change in plans is the latest sign of Irvine Co.’s bullishness on job growth in the area.
“Our aim is to meet Irvine’s robust job growth, especially in the tech and innovation sector,” said Steve Case, executive vice president of Irvine Co.’s office properties division.
Case and Irvine Co. Office Properties President Doug Holte told the Business Journal last month that Irvine’s collection of offices now are about 95% leased; an occupancy rate exceeding those in New York City and San Francisco.
“This plan helps us meet that goal through thoughtful and creative design,” Case said.
The office campus will include low-rise buildings ranging from 20,000 to 65,000 square feet, according to company officials.
Innovation Park is expected to have a modern, industrial design with exposed steel, open ceilings and skylights; it’s a nod to the growing demand for creative office space in Orange County.
LPA Inc. of Irvine is the project’s architect.
Solana Beach-based landscape architect Burton will create “a central landscaped pathway with pocket parks and fitness areas to create a village-like setting,” according to the developer.
