Transactions - SEPTEMBER 30, 2022

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$4b Anaheim, Calif., entertainment district approved by city council

by Andrea Zander

The Anaheim City Council has approved a $4 billion mixed-use entertainment district with plans to surround the Honda Center and ARTIC transportation center.

The 100-acre development, called ocV!BE, is a master-planned community that will include a 5,700-seat concert hall, 50,000-square-foot market hall, 20 acres of public space, two hotels totaling 650 rooms, about 1.1 million square feet of office space and 1,500 apartments with a 15 percent affordable-housing component.

Construction on the development is scheduled to begin before the end of 2022, with the project’s first phase opening to the public in 2024. The goal is to be ready before the 2028 Summer Olympics in Los Angeles.

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