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City of Irvine to Buy All American Asphalt Plant for $285M

City of Irvine to Buy All American Asphalt Plant for $285M

The City of Irvine and real estate developer Irvine Company are teaming-up once again to provide more housing opportunities for the Orange County city. Irvine will pay $285 million for the controversial All American Asphalt plant, and the site will be incorporated into The Gateway Preserve, a 700-acre open space that includes a park, interpretive area and hiking trails.

According to the Orange County Register, the funding for the purchase will come from a “concurrent deal” the city made with Irvine Company. The developer will give the city about 475 acres of land, with 80 acres allocated for housing development. The sale of the 400+ single-family homes and condos is expected to cover the cost of purchasing the asphalt plant.

The All American Asphalt Plant, located on Jeffrey Road, has been a source of controversy, as nearby residents have been complaining since 2019 about odors emanating from the property. Irvine actually filed a public nuisance lawsuit against the plant in 2020 due to the smell.

Don’t miss Connect LA on May 3 at the Hotel Indigo. Connect in person with California CRE experts like Rising Realty Partners EVP Kacye Hawk.


Inside The Story

Irvine CompanyGateway Preserve

About Mark Nieto

Mark comes to ConnectCRE with an extensive background as a business and news reporter in San Francisco radio, as well as 35 years as a traffic reporter on several stations including KGO, KNBR, KCBS and KFRC. As a business reporter, Mark covered the tech world in Silicon Valley where he became familiar with real estate transactions in the hot Bay Area marketplace. He attended San Jose State University with a BA in Radio and TV Broadcasting and currently resides in the Lake Tahoe area where he gets to frequently enjoy all of his favorite activities: Golfing, Fishing, Hiking and Skiing.

  • ◦Sale/Acquisition
  • ◦Development
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