Anaheim Ducks Owner Unveils $3B Mixed-Use Megaproject
The development dubbed ocV!BE will be a $3B 115-acre, mixed-use community and live entertainment district anchored by the home of the Anaheim Ducks, the Honda Center, officials for Henry and Susan Samueli said. The Samuelis have owned the Anaheim Ducks National Hockey League franchise since 2005 when they acquired the team from The Walt Disney Co.
“We are proud to present ocV!BE, the exciting next chapter for Honda Center and the surrounding area,” Henry and Susan Samueli said in a statement.
The Samuelis' proposed development comes about a year and a half after the family struck a deal with Anaheim to keep the hockey franchise playing in the city-owned Honda Center until as late as 2073. As part of the deal struck in 2018, the city sold three city-owned parking lots totaling 16 acres around the arena at 2695 East Katella Ave. to the Samuelis for $10.1M.
The Samuelis' Anaheim Arena Management company, which oversees the 650K SF,x 19,000-seat Honda Center, would also continue managing the arena, as well as the city-owned Anaheim Regional Transportation Intermodal Center, a transit center dubbed ARTIC that sits across the street from the arena.
The city and the Ducks have a 50/50 profit-sharing model, according to city staff. The agreement allows for the city to share in any net revenue from the Honda Center operations, beyond anything put back into the arena for improvements, Anaheim spokeswoman Lauren Gold said.
"The revenue Anaheim would get beyond this agreement from the new development would be added sales, hotel and property tax revenues from what’s built there," she said.
Under the Samuelis' proposed plan, the development around the arena will feature a 6,000-seat concert venue, a 68K SF food hall, restaurants and retail, two new hotels totaling 650 rooms, a 325K SF office tower, 2,800 residential apartments with 15% for affordable housing, three public plazas, 30 acres of open space and parks, and several pedestrian bridges and walkways, including a bridge that connects the arena and ARTIC.
Officials said the goal is to break ground within the next couple of years and have the project fully ready ahead of the 2028 Summer Olympics hosted in Los Angeles. The Honda Center is one of the sporting venues chosen to host some of the games, where the arena will host indoor volleyball.
City officials said the proposal will now go through about an 18-month approval process. The first phase of the development is slated to open in 2024, and could be a big draw for locals and visitors. In the past five years, the Ducks drew an average of 653,000 fans to the area each year. Last year, 24 million people visited Anaheim, according to Visit Anaheim, the city's tourism arm.
The ocV!BE project will sit right across the street from the owner of the Los Angeles Angels' proposed mixed-use development: SRB Management, an entity controlled by Angels owner Arte Moreno and his family, are proposing a massive development that includes homes, retail, office, hotel and apartments on a 115-acre site anchored by Angel Stadium.
Both sites are within a couple of miles of Disneyland and the Anaheim Convention Center, which are the two biggest economic engines for the city and Orange County.
"This proposal, and the investment it represents, is a fantastic opportunity for Anaheim, bringing new life and energy to the area around Honda Center, Angel Stadium and ARTIC," Anaheim City Councilman Steve Faessel said.