A vacant warehouse sitting between Von Karman Avenue and Millikan Avenue along Barranca Parkway is set to become one of the larger permanently affordable housing projects the Irvine Business Complex has seen—150 rental apartments rent-restricted for extremely-low, very-low, and low-income households, stacked in a five-story building next to 70 for-sale townhomes.
The Irvine Planning Commission was set to vote on the project at its April 2 meeting, with staff recommending approval of all applications filed by Irvine Community Land Trust (ICLT) to redevelop the 4.95-acre site at 2400 Barranca Parkway. The existing structure—a vacant 47,608-square-foot warehouse with attached office space—would be demolished to make way for the new development.
Who the affordable units are actually for
The 150 rental apartments are locked in as affordable housing in perpetuity—99 years under the project’s affordability plan. The income breakdown is specific: 16 units for extremely-low-income households (at or below 30% of area median income), 18 for very-low-income (50% AMI), 50 for low-income at 60% AMI, and 66 more at 70% AMI.
Unit sizes range from one-bedrooms starting around 553 square feet up to three-bedrooms at 1,171 square feet.
The for-sale piece: townhomes starting at 1,300 square feet
On the western portion of the site, 70 for-sale townhomes will be arranged in 11 three-story row buildings. Floor plans run from 1,300 to 1,583 square feet in two- and three-bedroom configurations. Buyers get attached two-car garages, and the project provides 376 total parking spaces across both components—82 more than state law requires for a project like this…