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TUSTIN, Calif, (September 9, 2020) —The City of Tustin and Brookfield Residential (Brookfield Homes Southern California LLC) have announced the renewal of their commitment to develop a new 400-home community at Tustin Legacy.
In December 2019, the City and Brookfield Residential executed a Disposition and Development Agreement (DDA). The DDA was jointly put on hold due to COVID-19, with both parties eager to resume their efforts to bring this new community to Tustin. This announcement confirms their confidence in the health of Orange County’s home market. The new community offers a mix of residences calibrated to the region’s economy, including sustained demand from first-time and move-up buyers.
“We are excited to see Brookfield Residential’s new community at Tustin Legacy move forward,” said City of Tustin Mayor Dr. Allan Bernstein. “Brookfield Residential is a proven developer at Tustin Legacy, and we entered into a great partnership together to provide more opportunities for attainable housing for Tustin and the region.”
“During the precautionary pause created by COVID-19, Brookfield Residential and the City continued to move forward the design for our plans,” said Brookfield Residential Southern California President Nicole Burdette. “If anything, the intervening months have demonstrated a significant need for new homes in the Orange County market and beyond. The result here will be a vital, walkable community that appeals to a broad range of homebuyers, and one that further elevates the crucial economic role of the Tustin Legacy masterplan.”
The approximately 25-acre infill site is bounded by Barranca Parkway, Tustin Ranch Road, Armstrong Avenue and Legacy Road, with easy access to the new FLIGHT creative office campus to the west and The District shopping and entertainment district to the east.
The new Brookfield Residential homes offer three design styles: attached stacked flats and row townhomes, as well as luxury single-family homes:
The 400 new homes will be constructed in phases under a revised timeline. Site preparation and grading is anticipated to begin in Fall 2020, followed by construction of major infrastructure. Model home completion is expected in Spring 2022.
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.
Brookfield Residential Properties Inc. is a leading land developer and homebuilder in North America. We entitle and develop land to create master-planned communities, build and sell lots to third-party builders, and conduct our own homebuilding operations. We also participate in select, strategic real estate opportunities, including infill projects, mixed-use developments, and joint ventures. We are the flagship North American residential property company of Brookfield Asset Management, a leading global alternative asset manager with over $500 billion of assets under management.