You could be forgiven for thinking Donald Bren has been on something akin to a legacy-building tour over the past month.
As the chairman and owner of Newport Beach-based Irvine Company—Orange County’s dominant real estate developer—Bren is well known for his aversion to being in the public eye.
But the past few weeks have seen the work of OC’s wealthiest resident, and his company, get plenty of publicity in local and na-tional circles.
Bren has even ta-ken center stage at a few events.
In early October, the real estate development company’s crown jewel, Newport Coast’s Resort at Pelican Hill, was named the “No. 1 Resort” in the country in Condé Nast Traveler’s 2011 Readers Choice Awards.
Not bad for a luxury resort that opened three years ago amid the worst of the recent recession. Even more impressive when you consider it took more than 20 years to get all the necessary regulatory approvals for the project, as Bren noted last week.
Also in October, Irvine Co. saw the launch of a coffee-table book titled “Coastal Mountains to the Sea: A Celebration of Open Space on the Historic Irvine Ranch.”
The book highlights the 50,000 acres of local land the developer has seen designated as open space and parklands for public use.
Bren made an appearance at Irvine’s Bommer Canyon on Oct. 20 to commemorate the book’s release, saying “my long-time dream has been for the Irvine Ranch to be known for what has been preserved and protected here, as compared to what has been carefully built.”
ULI Award
The most recent accolades came last week, when the Urban Land Institute presented Bren with its first-ever Vanguard Award, recognizing his “commitment to excellence in community master planning” for the development of Irvine.
“Simply put, Don is one of the most consequential developers in American history,” said Rick Caruso, chief executive of Los Angeles-based Caruso Affiliated, when presenting the award to Bren.
Building a master-planned city in the live, work, shop, and play model seen in Irvine is “only obvious now because Don thought of it first,” said Caruso, who also serves on the board of directors for the Irvine Co.
The Vanguard award came at the ULI’s annual event, held this year at the Los Angeles Convention Center.
Stewardship
Bren addressed several thousand attendees for close to an hour, talking about the development of the Irvine Ranch and other matters.
“I want the Irvine Company to be remembered as a steward for the land, both for the communities we build and plan, as well as what is not built,” Bren said when asked about what he hopes his company’s legacy will be.
The award, and Bren’s reflective comments at the ULI and book events, could suggest to some that the developer is thinking about winding down his business affairs.
That’s not the case, according to executives who know and have worked with Bren, 79.
The Irvine Co. chairman’s heroes include stepfather and steel magnate Earle M. Jorgensen and Arnold Beckman, who both worked past their 100th birthdays.
“I’m certain that (Bren’s) best and most creative days are yet to come,” Caruso said.
Bren noted at the ULI event that the Irvine Ranch still has another 20 years of development before it’s built out, and current and former executives at the Irvine Co. say Bren remains as active in day-to-day operations as ever.
OC Focus
The company also remains focused on OC and other parts of California but has no interest in a larger national presence, Bren said.
“We are provincial,” he said.
“Before you go to the master plan, you have to go to the land, and it’s all about location,” Bren said.
Irvine “is a great place to start for a master plan,” he said.
Bren told ULI attendees that the location and Irvine Co.’s status as a private company have been keys to the company’s success.
“I am convinced that community development has to be done in a private environment,” Bren said. “It’s a business that requires a great deal of patience”.
