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City of Tustin Executes Exclusive Negotiation Agreement with OliverMcMillan

The City of Tustin has now entered into an Exclusive Negotiation Agreement with OliverMcMillan, a national boutique real estate firm based in San Diego, to prepare a viable concept and business plan for 123 acres of Tustin Legacy's Community Core.

For OliverMcMillan, Tustin Legacy represents its first large-scale project in central Orange County. The award-winning firm creates high-quality, artistic, market-appropriate developments and has designed and developed more than eight million square feet of projects, with a total project value exceeding $5 billion. OliverMcMillan currently has approximately $3 billion in real estate projects under development in cities across the United States, including Houston, Downtown San Diego, Honolulu, Atlanta, Phoenix, and Nashville.

Located at the center of Tustin Legacy, the Community Core area is bordered by Armstrong Avenue, Warner Avenue, and Tustin Ranch Road. It also includes one of the seventeen-story-high historic blimp hangars.

"We have been working to carefully choose the most innovative development partners to bring about a forward-thinking Community Core plan for Tustin Legacy. This land is one of the last developable sites in Orange County and provides for an opportunity to bring together the best ideas to create an ideal environment for businesses and residents alike," said Jeff Parker, Tustin City Manager.

The planning process will likely take approximately three years due to the existing physical complexity of the land to be reviewed and milestones that include programming and design charrettes.

"We truly believe Tustin Legacy provides us all with the opportunity to create a special place for Tustin and Orange County like never before, a truly pedestrian-oriented place where people can gather and enjoy a mix of exciting uses," said Dene Oliver, chief executive officer, OliverMcMillan.

Since the marine base was officially conveyed in 2002, the City of Tustin has overseen planning, development and significant infrastructure investment for a new master-planned community that connects residents and businesses with a collection of retail and restaurant amenities, open space, quality neighborhoods, schools and services.

Earlier this year, Tustin entered into a negotiation agreement with Lincoln Property Company to develop a collaborative office campus to be built on 37 acres of land at the southwest edge of Tustin Legacy. The proposal includes approximately 760,000 square feet of creative office space along with almost 100,000 square feet of support uses, a food hall, supporting retail, outdoor meeting and gathering spaces, as well as structured and surface parking.

"The Community Core is a critical link in the overall planning and structure of Tustin Legacy. This site brings together our planned commercial, retail and neighborhood elements. We look forward to actively working with the visionary leadership of OliverMcMillan because they understand successful placemaking in an urban environment," Parker added.

About Tustin Legacy: Tustin Legacy is a 1,600-acre master-planned community located in the City of Tustin that is being developed on land formerly known as Marine Corps Air Station (MCAS) Tustin. For more information, visit www.tustinlegacy.com.

About OliverMcMillan: Founded in 1978, OliverMcMillan has earned a reputation as one of the largest and most forward-thinking commercial real estate developers. The award-winning firm creates high-quality, artistic, market-appropriate developments and is recognized by industry leaders for its ability to move forward in a nimble and visionary manner. The firm has designed and developed more than eight million square feet of projects, with a total project value exceeding $5 billion. OliverMcMillan currently has approximately $3 billion in real estate projects under development in cities across the United States, including Houston, Downtown San Diego, Honolulu, Atlanta, Phoenix, and Nashville. Approaching each project with respect for the surrounding architecture and local culture, the firm works to create vibrant, enduring destinations. For additional information about OliverMcMillan, please visit www.olivermcmillan.com.