FivePoint Updates Major Progress On 175-Acre Great Park Sports Complex In Irvine With Athletic Fields And Facilities In First Phase Near Completion

"Two years ago, we made a commitment to the City of Irvine to enhance the lives of residents here and throughout Orange County by developing unrivaled sports, recreational and other amenities," said Emile Haddad, Chairman and CEO, FivePoint. "I'm proud to share that we are on schedule in delivering the first phase of this major, multisport complex.  We elected to invest almost $60 million more than the Irvine City Council required when they chose us as their Great Park partner in November 2013 because we want to enrich this community for generations to come with the highest quality facilities."

Phase one of the Great Park Sports Park features 25 hard-surface tennis courts, seven natural turf soccer fields and five sand volleyball courts. Both the tennis and volleyball centers include championship courts with fixed seating for more than 100 spectators each. The centerpiece of phase one is the Championship Soccer Stadium with permanent seating for 2,500 spectators and grass berm seating for another 2,500 spectators. The soccer stadium will include press, hospitality and concession spaces as well. All of the Sports Park venues will include lighting for evening use.  All but the soccer stadium in this initial phase will be completed by end of 2016.

Still to come will be a baseball complex with seven fields, including a championship field with permanent seating for more than 1,000 spectators. There will also be a softball complex with five fields and a championship venue with seating for 500 spectators. Both baseball and softball complexes will have four batting cages each. Six synthetic turf soccer fields, four basketball courts and a pair of "flex" fields totaling nearly 12 acres for lacrosse, cricket, rugby or soccer will complete the Sports Park. These facilities are currently estimated to be complete in 2018.

"As the city's partner and selected Great Park developer, FivePoint is making good on its promise to offer residents of all ages a place to call home, where all generations can learn, play and thrive," said City of Irvine Councilmember Christina Shea. "We welcome the opportunity to host youth and collegiate championships at the Great Park Sports Complex and see Irvine's youth discover adventure and test their limits through sports and recreational activities."

City and council leaders not only recognize the Sports Park as an important step in the build-out of the Great Park, but they are excited about the potential economic benefits that are anticipated once various facilities are completed and opened to the public.

"I loved growing up in Irvine because there were constant opportunities to learn and play," said City of Irvine Planning Commission Chair Anthony Kuo. "We're not only keeping this tradition alive with the FivePoint developed Great Park Sports Complex, we're also building an economic engine for our future. It's reasonable to estimate that the complex will be a major boost to our local economy when fully operational. This is another way we're creating a sustainable community for generations to come."

Orange County Supervisor Todd Spitzer agreed:

"I'm encouraged to see the City of Irvine and FivePoint making sports activities more readily available to Orange County youth. The addition of the Great Park Sports Complex will improve our community as well as give a boost to the local economy by helping to develop and foster youth and amateur sports activities in this region."

About FivePoint
Five Point Communities Management, Inc. is the development manager for Heritage Fields El Toro, LLC, the owner of the private development adjacent to the Orange County Great Park, commonly known as Great Park Neighborhoods, and the entity that is the party to the agreement with the City to build-out the 688 acres of the Orange County Great Park. Five Point Communities Management, Inc. is a subsidiary of Five Point Holdings, LLC. Spanning the state from Southern California to the San Francisco Bay Area, FivePoint is now the largest owner and developer of mixed-use, master planned communities in coastal California based on the total number of residential home sites permitted under existing entitled zoning. FivePoint, based in Aliso Viejo, has major real estate holdings and developments in three of the most dynamic and supply-constrained markets along the California coast: Orange County, Los Angeles County and San Francisco County.

For More Information Contact:
Steve Churm, Chief Communications Officer
Five Point Holdings, LLC
949-349-1034

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SOURCE Five Point Holdings, LLC