2nd Newport Center Project Is Canceled

With a slow-growth initiative looming, the California Teachers Retirement System is withdrawing its construction plans for Newport Center on the heels of the Irvine Co.’s decision last week to halt its development plans there.

In a surprise move Jan. 27, Irvine Co. Executive Vice President Gary H. Hunt withdrew plans for expansion of the center, citing a slow-growth measure going before Newport Beach voters Nov. 7. In a letter to the mayor, Hunt said the so-called Greenlight Initiative adds too many uncertainties to an already time-consuming and expensive city planning process.

After a meeting with city officials the next day, teachers retirement system officials announced plans to follow suit. The group had planned to build an office building on land it owns at the center. Planning director Patty Temple said the city expects to receive a formal letter on the decision this week.

The initiative seeks to give city residents the power to vote on developments that would require a major amendment to the city’s General Plan. The initiative defines “major” as any project that would create more than 100 peak-hour car trips, add more than 100 homes or contain more than 40,000 square feet of floor area beyond current General Plan limits.

The Irvine Co. plan called for a 200,000-square-foot expansion in Newport Center. A third property owner, Pacific Life, is proposing a 420,000-square-foot expansion of its existing insurance company building. And a fourth property owner, the Newport Beach Country Club, wants to build 15 homes on its property. All four projects were linked on one General Plan amendment application, and the four property owners had planned to share the costs of studies and supporting documentation.