A $232M office campus is coming down. In its place, 426 new homes will rise.
The former Von Karman Creative Campus in the Irvine Business Complex is being transformed from high end office space into townhomes and flats. And this is only the beginning. The city has rezoned the area to allow up to 15,000 new residential units.
Why This Is Happening
The data tells the story clearly.
Office vacancy across Orange County has climbed sharply in recent years, driven by hybrid work and corporate downsizing.
At the same time, residential demand continues rising, reflected in steady increases in building permits and housing approvals.
Higher vacancy plus stronger housing demand equals land use change.
Cities adapt. Capital reallocates. Real estate evolves.
What This Means for Irvine
* The Irvine Business Complex will become more residential and walkable
* Retail and lifestyle infrastructure will follow rooftops
* Land values will increasingly reflect housing potential, not office yield
* Early positioning in transitioning corridors can create opportunity
This is not just demolition. It is strategic repositioning at scale.
Irvine is entering its next chapter. The question is not whether change is coming. It is how to align with it early.
