Triangle Tower Planned

By Sarah Tully
The Orange County Register
Last updated: November 29th, 2006
www.ocregister.com

Anaheim - A planned 22-story office building south of Angel Stadium could help fill a potential lack of new space in north Orange County.

Steadfast Business Properties submitted plans to construct an office building in the Platinum Triangle, an area the city is converting into a downtown-like region with condos, shops and restaurants. Almost 8,000 homes are planned.

It's only the second new office building proposed in the triangle since the city rezoned the area two years ago. A 12-story office building is part of plans for a 1,208-condo, retail and park development west of the stadium.

The developer turned in initial documents in August, but a hearing has yet to be scheduled. Currently, the city only permits buildings less than half that size, so an exception and additional studies would be required.

The building would include 572,000 square feet of office space, as well as 15,000 square feet of retail space and a 1,735-space parking structure.

A massive amount of office construction is under way in central and south county, but little is planned in the north, where a spate of residences are popping up.

Of the 4.7 million square feet of office space under construction in Orange County, just 175,000 square feet of it is going up in the north, said Jerry Holdner, vice president of market research for Voit Commercial Brokerage. None of it is in Anaheim.

"It makes complete sense. A lot of those people need a place to work. It sure would be nice if one could walk to work," Holdner said.

Countywide, six office buildings of more than 10 stories tall are in progress, including a 20-floor structure near John Wayne Airport.

At 320 feet tall, the proposed Anaheim tower would surpass Orange County's tallest building, which is 305 feet high. But the tower would be dwarfed by other planned buildings.

Across the street, Lennar Corp. is proposing a 32-story condo high-rise. In downtown Santa Ana, workers have cleared land for the 37- story One Broadway Plaza, which is expected to become the county's tallest building.

In an area that had mostly industrial buildings, Anaheim is touting the Platinum Triangle as a place where residents can live within walking distance of a transportation station, entertainment options and jobs. The tower would replace Win-Dor, which manufactures replacement vinyl windows and doors and employs about 200 people.

"I don't think it is going to fit into the environment here of live, work and play," said Gary Templin, president of Win-Dor. "Being an old Anaheim resident, I don't have a problem moving our facility out."

Templin said Win-Dor, which has seven Southern California locations and has about 7,500 assignments a year, was already outgrowing the three buildings with about 75,000 square feet of space when Platinum Triangle projects started popping up. So the company put the 3.3-acre property up for sale, Templin said. The purchase is contingent on the city's approval.

Triangle land prices have escalated, now selling for between $4 million and $7 million an acre.

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