The Village of Los Olivos at Irvine Spectrum had been meticulously planned to create an ultimate live-work-play lifestyle, offering a variety of single-family and multifamily homes connected to sprawling open space preserves stretching to Laguna Beach. The community attracted a significant number of young professionals who found convenience in working at nearby office campuses and enjoyed the amenities of the popular Los Olivos Marketplace, anchored by Whole Foods and featuring approximately 20 restaurants.
Currently, two new housing opportunities were in the works within the Village, aligning with the City of Irvine’s housing goals. The first opportunity entailed a new collection of single-family, for-sale homes designed to cater to young families and first-time homebuyers. This housing development was planned on a 17.5-acre property, promising a low-density living environment, beautifully situated across from Los Olivos Community Park and the San Diego Creek Trail. The City’s General Plan and recently adopted Housing Element had anticipated such developments in this location.
The second project, the Promenade Multifamily Community, had already garnered a reputation as one of Irvine’s most sought-after residential areas. Its popularity stemmed from the resort-like amenities it offered and its proximity to various job opportunities and shops. The plan for this community involved constructing new apartment homes on a 10-acre site, adhering to the master plan agreement between the Irvine Company and the City of Irvine. These homes were carefully designed and priced to cater specifically to young professionals and essential workers.
At the moment, both communities were still in the early planning stages, with the expectation of undergoing the final city review by mid-2024.