FUTURE OF FESTIVAL

As part of their housing needs analysis, the City of Anaheim, independently and proactively, identified Anaheim Hills Festival as an ideal housing location in District 6. City staff then sent that analysis to HCD. Now, many months later, after multiple City of Anaheim public hearings, the State of California is close to approving Anaheim’s housing plan which will allow for the development and distribution of new units across the entire city (Districts 1 through 6). Responding to that analysis, Shea Properties proposed a plan for housing at Anaheim Hills Festival that would:

• Allow for a larger reinvestment in the entire shopping center

• Attract dynamic retail and restaurants

• Bring a new and much needed local customer base to Anaheim Hills Festival

• Provide community benefit (green spaces, a dog park, special event programming, etc.)

• Speak to the legacy of Anaheim Hills by honoring existing neighborhood architecture and elevations

• Play a meaningful role in helping the City of Anaheim meet its housing needs in District 6

Roughly 450 units are being proposed, ranging from three to four stories in height. These new apartments are to take the place of the now vacant Regal Cinema location (which declared bankruptcy in 2022). The development will utilize existing grades to ensure a seamless integration into the already developed shopping center. The number of units was collaboratively strategized with City of Anaheim staff.

The residential development proposed by Shea Properties will be 90% market-rate with a proposed 10% of the units (approximately 45) priced for those who fall into the moderate income level. The current moderate income cut-off for one person in Orange County is $107,350. These 45 units aim to directly serve police officers, firefighters, teachers, municipal workers, young professionals, and young families. The remaining 90% of the units will be available at a competitive market price. Originally, the City of Anaheim independently identified this development area within Anaheim Hills Festival as 100% low and very-low income housing. Shea Properties has diligently worked with community members and City of Anaheim staff to develop a project that will meet the needs of local residents and also support the long-term success of the shopping center.

Tenants you know and love, like 24-Hour Fitness, Wood Ranch, Target, Hobby Lobby, and Tutor Time, aren’t planning on going anywhere.

Shea Properties will be the developer, manager, and operator of the apartments which will ensure a long-term investment that creates a truly valuable community. There have been no new apartments built in Anaheim Hills for well over a decade. In fact, the closest apartment complexes are near capacity. New housing in District 6 is an eventual certainty and this project provides clear community benefit and allows for greater local control.

As we continue to explore options and opportunities at Anaheim Hills Festival, we would love to meet you. Whether it’s 1:1, within a small focus group, or eventually at one of our larger community meetings, our door is open. We have met with nearly 100 community members so far and each conversation helps us to create a better Anaheim Hills Festival.

THANK YOU FOR BELIEVING IN THE FUTURE OF FESTIVAL. WE ARE EAGER TO CELEBRATE A REVITALIZED AND SUCCESSFUL SHOPPING CENTER WITH YOU.