Local developers Jeff Pintar and Cameron Hildreth are about three months from a deadline to complete the nearly $180M purchase of Laguna Niguel’s famed Ziggurat building – and they aren’t concerned about lining up financing for what’s in line to be one of South OC’s largest development projects in years.
“We have solicitations from several [potential] capital partners” and will finalize financing in the next few months, Pintar said last week during a meeting at the Business Journal’s office.
The partners are local, as is “the best in class” team the duo has lined up for getting approvals for the redevelopment of the 92-acre Chet Holifield Federal Building, Pintar said.
That team includes design and architecture firm KTGY and real estate law firm Cox, Castle & Nicholson, both in Irvine. Former U.S. House Representative Mimi Walters is also assisting the duo with lobbying work.
Pintar and Hildreth said they’re meeting with local businesses and potential partners to hear thoughts on potential uses of the long-underused site. No specific plans have been finalized, and the group hasn’t started a formal dialogue with the city yet regarding the project.
The duo says healthcare development is one potential option for what they call ‘the Zigg,’ noting interest from medical and hospital officials in the site.
“Because it’s in our backyard, we have a good idea what can be successful,” said Pintar, who lives in the city.
Entitlement and site remediation work likely means any new development is at least three years away, said Hildreth, a Long Beach resident and an expert in abatement and remediation work.
In the meantime, the duo is exploring ways to open the site to the community once the sale is complete and existing government tenants vacate the property. Events such as a farmer’s market are being considered.
Add another local prodigy to the ranks of tennis stars that call OC home.
19-year-old Learner Tien, an Irvine native, made it to the 4th round of the Australian Open last week before bowing out. He’s the youngest American man to make it that far in the tournament in almost 20 years.
His progress included the five-set defeat of world No. 5 Daniil Medvedev, a victory that the Wall Street Journal called “a tennis upset for the ages.”
Tien was taught the game by his father, Khuong Dan Tien, a local real estate lawyer. At age 5, he entered his first tournament at the Racquet Club of Irvine, according to reports.
Making the 4th round of the Grand Slam event earned Tien $420,000 and pushed his ATP singles ranking up over 40 spots to No. 80 in the world, as of last week.
