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California State University Fullerton Irvine Campus

Lennar Extends Lease for CSUF Irvine Campus

Agreement Provides for Continued Occupancy Through August 2010

March 26, 2009 :: No. 155

Cal State Fullerton and Lennar are pleased to announce an extension to the lease of campus facilities at Great Park Neighborhoods through August 2010, ensuring a continued relationship between the developer and the university. Cal State Fullerton has leased campus space in Irvine since 2002 for its upper-division, credential and graduate-level programs.

“Cal State Fullerton has had a long and successful relationship with Lennar, and we are happy to have reached an agreement that extends our ongoing partnership,” said CSUF President Milton A. Gordon.

“We are glad to be able to focus our resources on education and student services without the worry and cost of relocation at this time. We are grateful to Lennar for keeping our students’ best interests at heart.”

CSUF Vice President for Administration and Finance and CFO Willie Hagan explained that the university has been following with alarm the continuing deterioration of the state budget and the potential for additional budget reductions to the CSU system and to Cal State Fullerton.

“While the alternative facility we were working diligently to acquire would have provided more space and a long-term site for seven to 10 years,” Hagan said, “given the current fiscal environment, President Gordon felt that we should hold off on making such a significant financial commitment and accept Lennar’s offer to extend our lease.”

The CSUF Irvine Campus was established to meet the growing higher-education needs of central and south Orange County, catering to nearly 2,000 upper-level students. More than 14 university departments have branches at CSUF’s Irvine Campus, as well as a number of administrative offices. The campus also boasts its own bookstore, career counseling center, café and library.

Lennar’s relationship with the university began in 2005 with the company’s purchase of Great Park Neighborhoods (formerly Heritage Fields), home to CSUF’s branch campus. This marks the seventh extension of the initial lease that CSUF signed with Lennar in 2005.

Carol Wold, vice president, community affairs for Great Park Neighborhoods, pointed out that development of Great Park Neighborhoods would continue uninterrupted throughout CSUF’s tenancy. “Our teams will continue to work side by side with university administrators to ensure that student safety is assured during the development process.”

“Great Park Neighborhoods and Irvine city leaders have worked together in creating one of the largest public-private partnerships in the country,” Wold explained.

“Great Park Neighborhoods remains committed to building a vibrant community around the Great Park, following the tradition of master planning that has made the city of Irvine so desirable.”

Media Contacts:
Willie J. Hagan, CSUF vice president for administration and finance/CFO, 657-278-7745 or whagan@fullerton.edu
Carol Schroeder Wold, vice president, community affairs, Lennar - Great Park Neighborhoods, 949-784-4272 or carol.wold@lennar.com