Five low-rise buildings give way to 524 apartments near the intersection of San Joaquin Hills and Jamboree roads.
Irvine Company is building an apartment complex in Newport Center in place of an existing low-rise office complex. The project will be the second for-rent residential development owned by Irvine Co. in Newport Center, the upscale business, retail, and entertainment district surrounding the Fashion Island shopping center.
The company—the largest owner of apartments in Orange County, and its most active apartment developer of late—also owns The Colony at Fashion Island, a high-end complex a few blocks away from the project at San Joaquin Plaza.
The high end luxury Apartment homes should appeal to executives working in the area, as well as older Newport Beach residents looking to downsize from their existing homes.
The project, will be the latest major construction undertaken in Newport Center. Along with the newly completed Pimco office highrise and it’s sister building, 520 Newport Center Drive; the new headquarter of the Irvine Company.
Irvine Co. has put a reported $100 million into renovating Fashion Island over the past few years.
Ampco contracting has just begun the grading for this large project.