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Great Price for Great Park03-27-07 | News

Great Price for Great Park




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The park board now estimates the new park will cost more than $1 billion, although most everyone expects this figure will change multiple times. The money, reportedly, will derive from fees and taxes from the new housing already being built on the park perimeter. The housing developer, Lennar Corp., which bought the base in 2005 and transferred the park land to the city of Irvine, proposes to build 3,500 homes and about five million square feet of commercial and retail space.

The park will encompass 1,347 acres, over a third larger than Central Park, but not as ?EUR??,,????'?????<

The park corporation plans on building only as funds become available.

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