On May 23, 2023, the Irvine City Council voted unanimously to give approval to The Market Place Master Plan. Construction commenced in July, following the plan’s widespread backing from a diverse coalition comprising local merchants, residents, hospitals, universities, and businesses. Their collective aim was to facilitate the proximity of homes to jobs for the young professionals and essential workers of Irvine.
The decision marked a momentous, long-term reinvestment in the center, ensuring its continuous vibrancy as a place to reside, work, and enjoy leisure activities. At the core of the Plan was the transformation of an empty big-box building into a novel residential community, which brought the residents of Irvine closer to employment opportunities and nearby stores, thus attracting new customers for the local merchants. The anticipated availability of the first residences for lease was set for 2025.
The commencement of this community was part of an agreement reached between the City of Irvine and Irvine Company, aimed at addressing the need for housing near job centers to cater to the requirements of the Irvine community.
As for the Community Overview, it described the vibrant and walkable mixed-use community that seamlessly connected to shops, restaurants, entertainment, and office campuses. Situated adjacent to regional trails and transportation, the limited portion of the center allocated for new residents was expected to contribute around $30 million in annual spending, providing support to the existing merchants. The community boasted impressive features, such as 2 resort-style pools, 7 park areas, a dog park, fitness center, and various gathering spaces. Unique design elements like oversized windows, mature trees and landscaping, timeless architecture, and open paseos were incorporated to enhance the walkability and overall attractiveness of the area. The housing was thoughtfully designed and priced to cater to the needs of young professionals and essential workers.
Regarding Edwards Cinemas and nearby establishments, they remained open and accessible for dining and shopping during the construction phase, with no disruption in access. Additionally, all parking adjacent to the existing shops and restaurants between Market Place Drive and Jamboree would remain open, ensuring that parking availability met or exceeded city requirements both during and after the construction period.