Council Approves Landmark Deal for City to Acquire Asphalt Plant & Restore the Site to Its Original State
On Tuesday (April 11th), the Irvine City Council gave final approval of a massive land deal for the City to acquire and remove the All American Asphalt (AAA) plant in north Irvine. The 12-acre asphalt plant and hundreds of acres surrounding it will become part of a 700-acre open space preserve that has been dubbed the “Gateway Preserve.”
The asphalt plant has been the subject of swirling controversy for years as its noxious odors and chemical emissions affected nearby residents, who organized and demanded City action. Under the agreement, the City will acquire the plant for $285 million and close it down later this year.
The key to the deal is the Irvine Company’s dedication to the City of 475 acres of land surrounding the plant. The dedication includes 80 acres that the City will entitle for residential use consistent with the City’s Master Plan. The proceeds from the sale of the 80 acres to residential developers — estimated to generate around $300 million — will cover the cost of acquiring and dismantling the asphalt plant, as well as the establishment of the Gateway Preserve. Accordingly, the deal will not cost Irvine taxpayers anything.
