TUSTIN, Calif.—Regency Centers Corporation (“Regency”), a national owner, operator, and developer of grocery-anchored shopping centers, has announced the closing of the land that will become The Village at Tustin Legacy. With estimated net development costs of nearly $40 million, this ground-up development will sit at the core of Orange County’s new 1,600-acre master-planned community of Tustin Legacy. The center will be neighbored by a 130,000 square-foot medical complex, 1.9 million square feet of office space, and more than 6,800 new residential homes at total build-out.
“We are going to create something special here,” said John Mehigan, senior vice president and senior market officer for Regency Centers. “The Village at Tustin Legacy is going to be another great example of our commitment to build attractive neighborhood centers with unique tenant line-ups in affluent infill markets. We’ve spent a lot time making sure this will be a place that our neighbors are proud of and can make their own.”