v 31.39 | California Dreamin' Big in Central Orange County
Welcome to Happening in California, a brief look at political news, insights, and analysis of the world’s fifth-largest economy.
From Hollywood to Silicon Valley, California was built on dreams. However, in recent years, many found that California has not lived up to its ideal as the Golden State and have left.
But despite the exodus, California recently experienced its first population bump in three years, albeit a very small increase. Yet, there are other signs that California’s dynamism and spirit of dreaming big haven’t disappeared.
If you’re looking for hopeful stories about California, look no further than Central Orange County...
Regards,
Tom Ross | President and CEO | Swing Strategies
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The Big Picture: Central Orange County is the epicenter of four large-scale projects with a total value of more than $10 billion — a mixture of office, housing, retail, and entertainment that is only possible in California.
Why it matters: These large investments will drive significant economic growth and job creation, promising to have a profound impact on the region's economic landscape.
Orange County is known for its world-class coastal communities, the Disneyland Resort in Anaheim, and one of America’s most acclaimed master-planned communities, Irvine.
Yet, the county’s second most populous city has long lived in the shadows of its more illustrious neighbors, but that is beginning to change ...
Driving the news: Santa Ana has seen a record-breaking developmental surge in 2023 of more than double the construction valuation of past years and with no plans to slow down.
Two of the larger projects that are in the city’s approval process are Village Santa Ana and Related Bristol, both being expansive, mixed-use development plans that could redefine the city:
The Segerstrom family, with their visionary Village Santa Ana project, continues their legacy of community-centered investments by transforming a 17-acre retail area into a dynamic, pedestrian-friendly mixed-use destination featuring 1,583 residential units, 300,000 square feet of office space, and 80,000 square feet of retail space, further enhancing the vibrancy and economic vitality of Santa Ana.
A $3 billion investment in Santa Ana, Related Bristol is a transformative mixed-use endeavor. Spanning 42 acres, the project will feature 3,750 residential units, 350,000 square feet of retail space, along with 13 acres of open space.
Located near another Segerstrom achievement, the world-renowned South Coast Plaza, both these projects promise to create a more dynamic Santa Ana.
As the home of two professional sports franchises and the Disneyland Resort, Anaheim is known for its entertainment and tourism — attracting millions of visitors each year to its world-class attractions and venues.
Transformative growth ahead: In the last two years, the Anaheim City Council has unanimously approved two historic investments totaling more than $6 billion and further solidifying Anaheim’s status as a premier destination for both residents and visitors.
DisneylandForward is a minimum $1.9 billion investment in its first 10 years alone that will bring a mix of new theme park lands and attractions, entertainment experiences, shops, restaurants, and hotels together within Disneyland Resort.
While Walt Disney put Anaheim on the map, the Samueli family is leaving its own mark. The owners of the Anaheim Ducks whose philanthropic efforts extend throughout Orange County, the Samuelis are creating a legacy project surrounding the Honda Center in Anaheim.
OCVIBE is a transformative, $4 billion mixed-use development in Anaheim that will seamlessly blend premier sports and entertainment venues with meticulously designed residential, commercial, and outdoor spaces — creating a vibrant, integrated urban oasis for living, working, and playing.
What to watch: As Central Orange County continues in this era of unprecedented growth and development, the future holds immense promise. These visionary projects not only promise to reshape the physical landscape but also invigorate the local economy, create jobs, and enhance the quality of life for residents and visitors alike.
The Bottom Line: There are still those who dream big in California, and these ambitious projects in Central Orange County indicate a future of economic vitality, innovation, and community prosperity for decades to come.
As always, give us a ring or shoot us an email if you’d like to chat about what’s happening in California.