The Irvine Transportation Commission voted 5-0 Tuesday night to send a measure to the Planning Commission and, eventually the Irvine City Council, a plan that would allow Developer Five Point to build more than 1,000 new housing units in the Great Park that would be dually designated both as “affordable” and “additive.” It’s the “additive” part that should concern residents because it basically means “market rate” or “expensive.
This move adds to the traffic problems Mayor Don Wagner says he’s “solved” and doesn’t help to make new housing “affordable.”
FivePoint is asking the Irvine City Council to reclassify 1,056 “affordable homes” to “affordable” and “additive”. They can do this due to a loophole found in the City’s General Plan Land Use plan that classifies new development. By making a change to “additive” for this plan, FivePoint could build 1,056 of additional market rate units, increasing the number of homes in the Great Park from 9,500 to 10,556 units. It wouldn’t surprise me if FivePoint is looking for even more development space for expensive homes in Irvine; lots sell for $3 million an acre.
Irvine has never before approved retroactive reclassification.
Should the City Council approve this request by a developer than funds a majority of their campaigns via IEs, it will exceed the maximum housing units in the Great Park Neighborhoods and dramatically increase traffic with the only real benefit is the enrichment of the developer.
No traffic analysis was provided by FivePoint. No plan for schools, infrastructure, parks that appear to be available.
Residents ought to attend the Planning Commission meeting (Thurs, 3/7 at 5:30pm) because their vote will decide if more homes in the Great Park neighborhood a standards in the General Plan.