"The new park will have commercial development along its periphery and will include meadows, trails, wetlands, wildlife corridors, sports fields and a cluster of cultural buildings. Its first phase is scheduled to open in 2008
...The Great Park project will include 1,316 acres of parkland ringed by a 2,400-acre band of commercial development. The budget for the park section alone, pegged initially at roughly $500 million, will certainly go higher and may ultimately approach $1 billion. The park will be funded by Lennar â€" in an arrangement similar to the one Related Cos. has struck to develop for-profit parcels and a civic park along Grand Avenue in downtown Los Angeles â€" and by property taxes paid by owners of new residential development at the site, which will include 3,400 houses."
