Posted July 2026 | By Eric Engelbert | Updated as the project progresses.
Newport Summit to Become 422 Apartments: Cityview's Bet on the Fairchild Road Corridor
In March 2025, an affiliate of Cityview, a Los Angeles-based multifamily developer, acquired the Newport Summit office complex at 19600 and 19700 Fairchild Road in Irvine for $34.5 million, or roughly $309 per square foot. The purchase price made the intended use clear: Newport Summit's two mid-rise office buildings, totaling approximately 111,500 square feet, were acquired for their land value and their location in Planning Area 36, where the City of Irvine allows residential conversion of former office properties.
By September and October 2025, Cityview had filed an SB 330 preliminary application, a Conditional Use Permit application, and a Park Plan with the city, establishing a proposed residential program of 422 units plus some accessory retail. The Orange County Business Journal reported on the filings in November 2025. The transaction was funded in part by a $20.5 million construction loan from Banc of California. The prior owner was a TPG Angelo Gordon affiliate that had held a stake in the campus since 2018, and the properties had traded multiple times since 2007 as part of broader portfolio transactions.
The Site: Newport Summit Office Park on the Irvine Side of Jamboree Road
The Newport Summit name suggests Newport Beach, and the complex does sit close to the Irvine-Newport Beach border along Jamboree Road. Despite the name, 19600 and 19700 Fairchild Road carry Irvine addresses and fall within the city's jurisdiction and Planning Area 36 designation. The property sits near the intersection of Jamboree Road and MacArthur Boulevard, one of the most commercially active intersections in the airport area.
The location benefits from being adjacent to a rapidly evolving district. The UCI Health Irvine medical campus along Jamboree Road opened its main hospital to patients in late 2025, immediately becoming one of the area's largest employers. Uptown Newport, the Shopoff Realty Investments mixed-use development across Jamboree Road in Newport Beach, has delivered hundreds of for-sale and rental units in phases over the past several years, establishing a residential population in the immediate area. The combination of the hospital campus employment and the established Uptown Newport residential community makes the Fairchild Road location meaningfully different from IBC sites further from Jamboree.
The two office buildings at 19600 and 19700 Fairchild Road total about 111,500 square feet, consistent with typical IBC mid-rise office products from the 1980s and 1990s. The buildings' occupants at the time of sale included a range of office tenants whose leases would need to expire or be bought out before demolition and construction could begin. The parking that currently serves the office campus would be replaced by structured or podium parking for the residential project.
422 Units Plus Retail: The Residential Program at Newport Summit
The 422-unit residential program is the largest for-sale or rental project in Irvine's IBC pipeline below the 668- and 830-unit projects at Business Center Drive and Centerpointe. At this scale, Cityview is planning a multifamily community with the full range of amenities that institutional apartment operators bring to Class A residential developments: fitness centers, outdoor recreation areas, co-working or lounge spaces, and the leasing and management infrastructure that comes with a professionally operated community of this size.
The accessory retail component, noted in city filings alongside the 422 residential units, will likely serve residents and possibly draw foot traffic from the surrounding employment base. Retail at the ground floor of an apartment community in a location like Fairchild Road could include services such as a coffee shop, dry cleaner, or small food and beverage operator that benefits from the captive residential population while also serving nearby office workers.
Cityview has not released floor plan details, unit size ranges, or proposed rents for the Newport Summit project. Those details will be developed through the entitlement process and pre-marketing phase. Given the Irvine location and the quality standards Cityview typically brings to its multifamily communities, rents at this project, when it delivers, will likely be competitive with other Class A apartment communities in the airport area.
Plus accessory retail
Market-rate rental
Class A multifamily
~111,500 SF existing office
Planning Area 36 (IBC)
Irvine, CA 92612
~$309 per SF
Seller: TPG Angelo Gordon
Buyer: Cityview affiliate
Adjacent to UCI Health
Near Uptown Newport
Airport area
| Project Address | 19600 and 19700 Fairchild Road, Irvine, CA 92612 |
|---|---|
| Total Units | 422 apartments (market-rate rental) |
| Accessory Retail | Yes (square footage not disclosed) |
| Existing Buildings | Two mid-rise offices, ~111,500 SF total |
| Site Name | Newport Summit |
| Planning Area | PA 36 (Irvine Business Complex) |
| Developer | Cityview (Los Angeles) |
| Acquisition Price | $34.5 million (March 2025) |
| Prior Owner | TPG Angelo Gordon affiliate (held since 2018) |
| Construction Loan | $20.5 million, Banc of California |
| SB 330 Pre-Application | September 2025 |
| CUP + Park Plan Filed | October 2025 |
| City Planner | Erica Hong |
| Project Status | Entitlements under review |
SB 330, CUP, and the IBC Residential Conversion Process
The September 2025 SB 330 preliminary application established Cityview's protected baseline under the Housing Crisis Act before the full application package was assembled. The SB 330 filing protects the project from more restrictive regulations or fees adopted during the review period, which is particularly valuable for a multifamily project of this scale where the financial pro forma is sensitive to changes in development standards, parking requirements, or impact fees.
The Conditional Use Permit application, filed in October 2025, reflects the land use structure of Planning Area 36. In Irvine's master-planned community framework, residential use in an area historically designated for commercial and office development requires a CUP to authorize the change of use. The CUP process gives the Planning Commission the opportunity to establish specific conditions on the project's design, operations, and relationship to surrounding properties, including requirements for setbacks, building height, noise mitigation, and traffic management that will be codified in the permit conditions.
The Park Plan, filed concurrently with the CUP, addresses Irvine's parkland dedication requirement for residential projects. Irvine has one of the most comprehensive park dedication programs in Orange County, requiring developers of residential projects to either dedicate land for public park use or pay in-lieu fees based on the number and size of units. For a 422-unit apartment project, the park dedication calculation will result in a significant obligation, typically resolved through an in-lieu fee payment that goes into Irvine's park improvement fund.
Cityview: A Multifamily Developer with Roots in Public Service
Cityview was founded in 2000 by Henry Cisneros, who served as Secretary of Housing and Urban Development (HUD) in President Clinton's administration from 1993 to 1997. Cisneros is also a former Mayor of San Antonio and one of the most prominent figures in national urban policy of the past four decades. Cityview has grown from that foundation into a Los Angeles-based firm that specializes in developing and acquiring multifamily projects across California and other Western markets, with a portfolio that includes both market-rate and mixed-income communities.
The Newport Summit acquisition was expected from the moment the sale was announced in March 2025. Acquiring an office park in an IBC-zoned area with residential conversion potential is a direct expression of Cityview's strategy, and the firm's experience with the California entitlement process and multifamily finance gives them the operational depth to move a 422-unit project through the Irvine review pipeline.
Newport Summit's position near UCI Health and Uptown Newport positions the future apartment community to serve a tenant profile that differs from typical IBC renters. UCI Health is the kind of institutional employer that generates consistent demand for quality rental housing within a short commute. Medical professionals, research staff, and hospital support workers are reliable tenants for well-located Class A apartments, and a 422-unit community at Fairchild Road will be close enough to the hospital campus to market directly to that population. The Uptown Newport residential presence across Jamboree also demonstrates that there is established demand for market-rate housing in this immediate area.
Want Updates on This Project or Irvine Rentals and Condos?
The Newport Summit residential project has not yet received Planning Commission approval and is not available for lease. We track Cityview's projects and all active IBC entitlements. Whether you are looking for an apartment near John Wayne Airport and UCI Health, a condo or townhome for purchase in Irvine, or you simply want to stay informed on what is being built in this corridor, we can help.
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