FivePoint Communities debuts its Irvine homes in "the Great Park"

The city of Irvine has given up trying to develop The Great Park them selves after wasting millions of dollars and years of time. They couldn't handle developing the park so they have sold the land to FivePoint Communities for over 2 billion dollars!  This well financed builder will construct over 10,000 homes in and around the former marine base in exchange for the development of the 2/3s of the park. Prices of the homes will start in the $700,000s but top out at $1.5 million. Let's do some quick math with an average home selling price of $900,000 x 10,000 homes = 9 Billion.   There is clearly room for profit here.  Why else would anyone take on a project this big?

I suspect the Great Park will be similar to the Quail Hill but on a much larger scale.  Unfortunately for the most part the facilities in Quail Hill are only available only to the residence of  Quail Hill.  If you think the great park was going to be similar to New York Cities Central Park, think again.

It appears that is has been carved up and sold to the highest bidder for development.

And get ready to sit in even more traffic as 20,000+ additional cars clog the roads of Orange County.

Watch the video below and submit your comments.