Work has begun on the $175 million Terracina at Tustin Legacy, an affordable apartment complex coming to the 1,600-acre master-planned development at the former Marine Corps Air Station in Tustin.
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USA Properties Fund and Irvine Company are partnering on the 338-unit project, which will add affordable housing to the bustling neighborhood that includes the remaining historic blimp hangar, a large swath of existing homes, a school and several retail centers.
The groundbreaking was held Thursday, Aug. 6.
Terracina at Tustin Legacy will feature a four-level building at 2265 Airship Ave. and another at 16055 Compass Ave. The units will be available to income-qualified residents.
Apartments will be available to households earning 30% to 60% of the area median income for Orange County, or about $55,830 for a four-person household at the 30% limit to more than $111,600 at the 60% threshold, according to USA Properties.
Rents will range from $1,014 for a one-bedroom apartment for households at the 30% income limit to $2,856 for a three-bedroom unit at the 60% income threshold. Income limits and rents will likely increase slightly before leasing starts in 2028, the company noted.
Amenities will include a clubhouse, swimming pool and parking garage.
Construction should be completed in the second quarter of 2029, with leasing and some move-ins in the second half of 2028.
Interested applicants can drop in their email into an interest list to stay on top of when the community will begin accepting applications — and when the complex will be completed. Go to usamfm.com/communities/terracina-at-tustin-legacy-apartments
Axis building sells to C.W. Driver Cos. for $11.8M
The former headquarters building for the Orange County Register sold July 15 for $11.75 million in Anaheim.
The 49,733-square-foot, three-story building — part of the Axis office campus across the street from Angel Stadium — sits at 2190 S. Towne Centre Place.
The Register exited the building during the pandemic when myriad offices shut down and employees were sent home to work remotely. At the time, the Register also leased a mixed-use office and print facility on Lewis Street in Anaheim, where it briefly moved as the pandemic isolation rules eased and before the company leased a new base in Irvine by John Wayne Airport.
CBRE represented the seller, ParkTerra and JEN Partners. The buyer was an LLC connected to C.W. Driver Cos. in Pasadena, according to the deed viewed at PropertyShark.com.
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“The sale of 2190 executes the first step of the business plan we set at acquisition,” said Aaron Talarico, president of ParkTerra. “The building was always best suited to an owner-user, and this outcome allows the venture to focus on the remainder of the campus, where we see significant remaining value.”
Before the Register occupied the building it underwent significant tenant improvements updating the infrastructure and overall appeal of the building. The Register occupied the first and second floors while the third was leased to several tenants.
ParkTerra and JEN Partners acquired the Axis complex for $62.5 million in 2025. The 302,630-square-feet, five-building portfolio, which sits on 14 acres along Rampart Street, sold in 2018 for $83 million.
Orange-based AO won four grand prizes and 24 merit awards at the 2026 Gold Nugget Awards. One of the grand prizes for the architect and design firm went to its design of Bolsa Pacific, the redevelopment plan for the former Westminster Mall, which will convert the 83-acre mall property into a mixed-use housing, hotel, office and retail district. (Rendering courtesy of AO)
Orange-based AO won four grand prizes and 24 merit awards at the 2026 Gold Nugget Awards. One of the grand prizes for the architect and design firm went to its design of Bolsa Pacific, the redevelopment plan for the former Westminster Mall, which will convert the 83-acre mall property into a mixed-use housing, hotel, office and retail district. Seen here is a representation of a residential pool. (Rendering courtesy of AO)
Orange-based AO won four grand prizes and 24 merit awards at the 2026 Gold Nugget Awards. One of the grand prizes for the architect and design firm went to its design of Bolsa Pacific, the redevelopment plan for the former Westminster Mall, which will convert the 83-acre mall property into a mixed-use housing, hotel, office and retail district. Seen here is a representation of proposed townhomes. (Rendering courtesy of AO)
Orange-based AO won four grand prizes and 24 merit awards at the 2026 Gold Nugget Awards. One of the grand prizes for the architect and design firm went to its design of Bolsa Pacific, the redevelopment plan for the former Westminster Mall, which will convert the 83-acre mall property into a mixed-use housing, hotel, office and retail district. (Rendering courtesy of AO)
Gold Nuggets for Orange County projects
The Orange-based architect firm AO won four grand prizes and 24 merit awards at the 2026 Gold Nugget Awards.
One of its grand prizes was for the firm’s design of Bolsa Pacific, the plan to redevelop the former Westminster Mall into an 83-acre mixed-use housing, hotel, office and retail district.
AO said the project also received merit awards for Best On-the Boards Community and Best On-the-Boards Mixed Use Project.
Shopoff Realty Investments bought the property and tore down the mall in April.
“You’re not just replacing buildings,” Shopoff CEO Bill Shopoff said at the time. “You’re stewarding a piece of community history while shaping what comes next.”
AO’s other projects in Orange County that drew Gold Nuggets included:
—Bay Shores Peninsula Hotel, Newport Beach: Best Rehabilitation Project
—191 North Orange St., Orange, CA
—Cloud House, Stanton: Best Multifamily Housing Community
—Encore Irvine, Irvine: Best On-the-Boards Multifamily Community
—The Orion, Orange: Best Affordable Housing Community
Dennis Borowsky recently joined the brokerage JLL in Irvine as a senior vice president. (Photo courtesy of JLL)
On the move
Dennis Borowsky has joined JLL in Irvine as a senior vice president. He will specialize in working with property owners and tenants in Orange County, Los Angeles and surrounding areas. Most recently, Borowsky worked at Lockehouse Retail Group.
The real estate roundup is compiled from news releases and written by Business Editor Samantha Gowen. Submit items and high-resolution photos via email to [email protected] . Please allow at least a week for publication. All items are subject to editing for clarity and length.
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