Editor’s Note: Author Tom Ross is CEO of Swing Strategies, a public affairs and political consulting firm with offices in Irvine and Sacramento. He started his career over 30 years ago working in Central Orange County. The Business Journal’s special report on architecture and engineering begins on page 13.
From Hollywood to Silicon Valley, California was built on dreams. However, in recent years, many found that California has not lived up to its ideal as the Golden State and have moved away.
Despite the exodus, California recently experienced its first population bump in three years, albeit a very small increase. Yet, there are other signs that California’s spirit of dreaming big hasn’t disappeared. If you’re looking for hopeful stories about California, look no further than Central Orange County.
Traditionally known for its older and less affluent communities, Central Orange County is now undergoing a remarkable transformation. The influx of capital into the region is significant, with prominent community figures investing in areas ripe for development.
These investments are set to bring substantial returns while benefiting the entire region’s economy.
These capital flows are focused on key areas — housing, retail and entertainment — driving substantial improvements in the community. This wave of investment is revitalizing neighborhoods, enhancing living conditions and creating affordable housing opportunities.
Furthermore, new investments in entertainment venues, iconic parks and cultural centers are not only attracting new residents and businesses but spurring further economic growth.
$10B in Projects Planned
At the heart of this transformation are four large-scale projects in Central Orange County, collectively valued at over $10 billion — a mixture of office, housing, retail and entertainment that is only possible in California. While South Orange County often garners more attention, the significant investments in Central Orange County are pivotal in redefining the area’s future and driving its revitalization.
About 30 years ago, Santa Ana and Anaheim were known to be plagued by violence and gangs. City and county officials have worked to clean up the crime, which is evident in a variety of statistics. For example, Santa Ana’s annual violent crimes topped 3,000 in 1993 and by 2020 had plummeted in half to about 1,500, according to the city statistics given to the FBI. The crime plummeted to about 620 in 2022; although it remains to be seen if that’s a one-off. Anaheim’s violence showed similar results.
These changes are reflected in the booming housing market. In June, the median home price in Santa Ana rose to approximately $835,000, reflecting a 20% increase from the prior year. Anaheim saw its median home price climb 5.9% to about $899,000. This growth signals a broader rejuvenation of the area, making both cities increasingly attractive to potential residents.
These large investments will drive significant economic growth and job creation, signaling where people see the future and promising to have a profound impact on the region’s economic landscape. It’s important to remember these nine words: People invest where they think the future is going.
Santa Ana’s Visionary Planning
Orange County is known for its world-class coastal communities, the Disneyland Resort in Anaheim and one of America’s most acclaimed master-planned communities, Irvine. Yet, the county’s second most populous city has long lived in the shadows of its more illustrious neighbors, but that is beginning to change.
Santa Ana saw a record-breaking surge in development in 2023 of more than double the construction valuation of past years and with no plans to slow down. Two of the larger projects that are in the city’s approval process are Village Santa Ana and Related Bristol, both being expansive, mixed-use development plans that could redefine the city.
The Segerstrom family, with their visionary Village Santa Ana project, continues their legacy of community-centered investments by transforming a 17-acre retail area into a dynamic, pedestrian-friendly, mixed-use destination featuring 1,583 residential units, 300,000 square feet of office space and 80,000 square feet of retail space, further enhancing the vibrancy and economic vitality of Santa Ana.
A $3 billion investment in Santa Ana, Related Bristol is a transformative mixed-use endeavor. Spanning 42 acres, the project will feature 3,750 residential units, 350,000 square feet of retail space (see story, page 8).
It’s located near another Segerstrom achievement, the world-renowned South Coast Plaza. Both these projects promise to create a more dynamic Santa Ana.
Dreaming Big in Anaheim
As the home of two professional sports franchises and the Disneyland Resort, Anaheim is known for its entertainment and tourism — attracting millions of visitors each year to its world-class attractions and venues. In the last two years, the Anaheim City Council has unanimously approved two historic investments totaling more than $6 billion and further solidifying Anaheim’s status as a premier destination for both residents and visitors.
DisneylandForward is a minimum $1.9 billion investment in its first 10 years alone that will bring a mix of new theme park lands and attractions, entertainment experiences, shops, restaurants and hotels together within Disneyland Resort.
While Walt Disney put Anaheim on the map, the Samueli family is leaving its own mark. The owners of the Anaheim Ducks whose philanthropic efforts extend throughout Orange County, the Samuelis are creating a legacy project surrounding the Honda Center in Anaheim.
OCVibe is a transformative, $4 billion mixed-use development in Anaheim that will seamlessly blend premier sports and entertainment venues with meticulously designed residential, commercial and outdoor spaces — creating a vibrant, integrated urban oasis for living, working and playing.
The Bottom Line
As Central Orange County continues in this era of unprecedented growth and development, the future holds immense promise. These visionary projects not only promise to reshape the physical landscape but also invigorate the local economy, create jobs and enhance the quality of life for residents and visitors alike.
There are still those who dream big in California, and these ambitious projects in Central Orange County indicate a future of economic vitality, innovation and community prosperity for decades to come.
