Ducks owners announce 115-acre residential, commercial, and entertainment district surrounding Honda Center
A rendering of the proposed ocV!BE district.
For decades, the area surrounding Angel Stadium and Honda Center has lain mostly dormant with a smattering of industrial warehouses and company offices with few, if any, residential, commercial, and entertainment options for the general public.
Now, Ducks owners Henry and Susan Samueli are looking to inject some much-needed life into the area.
ocV!BE, a brand new 115-acre neighborhood featuring new apartment buildings, hotels, and entertainment facilities surrounding Honda Center, was officially announced by the Ducks owners through their newly formed ocV!BE Sports & Entertainment, LLC on Wednesday.
The area is expected to cost approximately $3 billion to develop, opening in 2024 with 100% completion in time for the 2028 Summer Olympic Games, where Honda Center is scheduled to host indoor volleyball events. According to the FAQ’s of the project, no public money will be used for the development.
Plans for the new neighborhood encompassing part of Anaheim’s Platinum Triangle district alongside Angel Stadium include a new 6,000-person capacity concert venue, 68,000 square foot food hall, numerous shops and restaurants, two hotels totaling 650 rooms, a 325,000 square foot office tower, three public plazas, and 2,800 apartments that will include up to 15% affordable housing. These areas will be interconnected by open space, parks, and a series of pedestrian bridges and paths, including a bridge over Katella Avenue.
ocV!IBE Sports & Entertainment claims that the project will create almost 13,000 construction jobs, 3,300 permanent jobs when completed, and generate more than $2 billion in one-time economic impact according to DTA, a public finance and development economics firm. The project is also estimated to generate $400 million annually in local economic impact.
“ocV!BE will provide a live, work, and play community of a scale not seen in Orange County, with live entertainment events and activities year-round," said Tim Ryan, CEO of the Ducks and ocV!BE Sports & Entertainment, LLC, which will manage the development and operation of the district. Michael Schulman, Managing Director of the Samueli Family office, will serve as Executive Chairman of ocV!BE Sports & Entertainment.
The neighborhood is expected to be supported by a series of parking structures and an increase in road capacity in an attempt to improve the increased amount of traffic brought about by this project.
In 2018, the Samuelis and the City of Anaheim came to an agreement to keep the Ducks at Honda Center for an additional 25 years. As part of that agreement, the city sold the parking lots surrounding the stadium as well as a nearby office building to the Samuelis. This neighborhood will be built on the land acquired in that deal.
The announcement of the project comes one day after the Los Angeles Angels announced their own neighborhood development plan surrounding their stadium. If both projects are completed as planned, the Platinum Triangle area surrounding the two stadiums will total 265 acres of residential, commercial, and entertainment districts.
"We are proud to present ocV!BE, the exciting next chapter for Honda Center and the surrounding area. We are fully committed to Anaheim, and we believe this sustainable and integrated community will offer a unique and attractive lifestyle as well as create jobs, while also providing residents and visitors additional opportunities for premier live entertainment to complement our marquee Honda Center events," said Henry and Susan Samueli.
Website: https://www.ocvibe.com