USA News

OCVibe buys 6.5 acres from Anaheim for nearly $5 million

A piece of Anaheim property that sits under power lines, which restrict how it could be used, will become employee parking for the planned OCVibe development around the Honda Center.

Anaheim is selling the 6.5-acre parcel between the 57 freeway and the Santa Ana River to an affiliate of Anaheim Arena Management (the Anaheim Ducks owners’ management company) which had been leasing it with an option to buy. The City Council voted unanimously Tuesday, Nov. 11, to sell the land for $4.97 million, an amount the city said is fair market value based on an appraisal it commissioned.

The property was previously home to an equestrian center that offered riding lessons and boarded horses, but business had slowed down in the past few years and the stable owners opted to retire. Now it will be turned into a parking lot to serve employees of OCVibe, an approved mixed-use district with restaurants, entertainment venues, public green spaces, homes and offices, all anchored by the Honda Center.

“Any development on that site is incredibly restricted because of the Southern California Edison transmission lines” above it, so in the near term it will be used as a parking lot for employees who will be shuttled to their jobs around the 95-acre entertainment district, OC Vibe spokesman Matt Hicks said.

As part of the deal, the city kept a small easement along the south end of the property that is planned as a bike path. Hicks said construction on the first phase of OCVibe should start early next year.

File source

Show More

Related Articles

Back to top button