At the Urban Land Institute conference this week, Donald Bren, Chairman of the Irvine Company, cites lack of capital and government and environmental regulation as reasons for this.
John Gittelsohn breaks down the success of the Irvine Company, which will probably never be replicated:
"Irvine Ranch, which has enough undeveloped land to last 20 more years, succeeded as a planned community because of its mix of housing, jobs and educational, cultural and outdoor facilities, Bren said. As important is its location, near Pacific coast between Los Angeles and San Diego, he said."
"'It all comes down to acquisition funding,' said Bren, who invested in Irvine Co. in 1977, became its chairman in 1983 and sole shareholder in 1996. 'There was very little patience to do the planning properly and move the community along at a proper pace.'"
FULL STORY: Irvine Co.’s Bren Says Master-plan Cities Not Feasible
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