Air base turned into vast real estate investment project

More than 12,000 people turned up to the preview event for a US masterplan community aiming to transform a former military base into a desirable residential project.

The Great Park Neighbourhoods project, from builders Lennar, will develop the former El Toro marine base, California.

People were given a first taste of the project at an on-site events day with organisers declaring themselves delighted with the level of interest.

Carol Wold, vice president of community affairs for Lennar, said:

“With respected educational institutions among its characteristics, this first neighbourhood will be designed to remind people of a college town with a cozy, lively main street.”

Lennar added the Neighbourhoods project will provide the tax revenue to finance and build the new Orange County Great Park alongside it at no cost to current taxpayers.

Construction work is expected to begin in the Autumn with three separate neighbourhoods set to make up the whole site.

The base itself was decommissioned in 1999 before Lennar and a group of other firms snapped up the land for $650 million.

The 3,724-acre site was officially handed over by the US Military to Lennar in a 2005 in a ‘changing of the guard’ ceremony.

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