The City of Anaheim has given the green light to a revised development plan for OCVibe, a comprehensive $4 billion venture surrounding the Honda Center. According to an announcement by the City of Anaheim, the updated blueprint accommodates additional residential units, with a larger portion allocated to affordable housing and scales back on office space to parallel current market demands.
In the notch to adapt to a market less hungry for office real estate, the new strategy calls for the dismissal of the 384,000-square-foot Arena Corporate Center slated north of the Honda Center. Following its razing, plans include the potential erection of up to 750 apartments, along with 15,000 square feet dedicated to retail, and a revised quota of 325,000 square feet for office space integrated into a mixed-use environment.
Variability is built into the framework, with the number of additional apartments ranging from 460 to 750, contingent on the exact quantity of office space developed by OCVibe’s impresarios, Anaheim Real Estate Partners LLC. This company, steered by Henry and Susan Samueli – proprietors of the Anaheim Ducks and the Honda Center – ushers in an increment in OCVibe’s apartment tally, potentially spiking to a total of 2,250 units from the originally sanctioned 1,500, as per the City of Anaheim…