More houses for GP in exchange for GP financing

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PenguinOrange

Member
http://www.latimes.com/business/realestate/la-fi-great-park-20131019,0,7290631.story

Would add a lot more housing, but if GP can actually get built out it's a big win for all the local communities, instead of the aging empty space right now. Don't get me wrong, the orange balloon is nice, especially with the jack-o-lantern paint job, but when will Great Park live up to it's expectations? :)

You may ask what happened to the original $200M in investment go? Classic govt:
>>>
Irvine spent almost all of the project's initial allocation of $200 million on marketing, concerts, fairs and planning.
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But if the vision can come to fruition could be pretty nice:
>>>
The city would get a 176-acre sports complex ? more than twice the size of Disneyland ? a 45-acre park area known as the Bosque area, a 227-acre golf course, a 35-acre canyon and a 178-acre wildlife corridor set aside as a natural reserve.
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It's a deal with the devil, it seems. A greedy developer wants more money, and he has something that Irvine/OC wants, so he'll get his money if he'll get more homes. And of course, we'll be left to deal with the consequences of 4,600 more homes, which translates to maybe 10,000 more people, 10,000 more cars, when our local roads already seem overwhelmed during rush hour. Personally, I'd rather not make this deal and finance the park with a tax on OC residents with an additional tax on Great Park homes, since presumably they'd get the most benefit from the park. I know, something that ain't going to happen.
 
We've discussed this on other threads.

In addition to the additional homes (and pains that come with that), the cost of the financing will be passed on to the homebuyers.
 
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