The retail project, The District at Tustin Legacy will be located at the northwest corner of Jamboree Road and Barranca Parkway and is part of the master planned community of Tustin Legacy currently under construction. Phase One of the District is set to open in the fall of 2006.

“The District at Tustin Legacy will be an upscale retail center that will attract shoppers and entertainment seekers from all over Orange County,” said Mayor Lou Bone. “But it will also be an extension of the neighborhood to those who choose to call Tustin and Tustin Legacy their home. Residents from neighborhoods all around the District will have easy driving, walking and bicycling access to the large retail stores for errands, or just to relax and shop in the specialty stores or catch a movie and dinner. “

Phase One will include a central lifestyle component. The anchor will be a 250,000 square foot AMC megaplex movie theater complex with fourteen state-of-the art screens and seat at least 3,000 upscale stadium seats. Surrounding the movie theater will be restaurants, bistros, and cafes along with entertainment and specialty retail venues. Free standing retail and dining pads will be located adjacent to the lifestyle component. Phase One will also include large in-line commercial stores such as Target, Whole Foods, TJ Maxx & More, Petsmart, Office Depot, and Tilly’s. Costco and Lowe’s have announced they will take occupancy in Phase Two of the project.

The District at Tustin Legacy is a development venture between Vestar Development Company and Kimco Realty Corporation. Vestar Development Company is one of the leading privately held real estate companies in the western United States and specializes in the development and management of open-air retail centers. Vestar builds and manages destination entertainment-retail complexes and power and lifestyle centers that are known for their unique space and attraction quality. Vestar has a reputation for developing highly successful destination centers. Vestar recently developed the award-winning Desert Ridge Marketplace in Phoenix that will act as a benchmark for The District at Tustin Legacy.

Kimco, which is Vestar’s financial partner in the project is a publicly traded real estate investment trust and is one of the largest owners and operators of neighborhood and community shopping centers in North America.

In addition to the District at Tustin Legacy, several other key development milestones have taken place the first portion of 2005. Laing Homes broke ground on the Tustin Field II development in late 2004 and models opened and sales began in February on their single-family home project. Lennar Homes has been proceeding through the entitlement process with the city and will break ground on their developments, Columbus Square and Columbus Grove in late summer. The City has begun its first major infrastructure project on Valencia Avenue and Armstrong Avenue that will bring street access as well as cable and utility access to the northwest portion of Tustin Legacy.

To open the southwest portions of Tustin Legacy where the District at Tustin Legacy will be located, infrastructure, including Tustin Ranch Road, Warner Avenue from the City of Irvine and Barranca Parkway will go to bid this summer. In the remaining portion of 2005 South Orange County Community College District will break ground on their new technology educational center late this summer. Rancho Santiago Community College District will break ground on their Public Safety Academy this fall. The Village of Hope, which will be the nation’s largest transitional housing facility for homeless families, is scheduled to have construction complete and open this fall.

About the City of Tustin

Located in the heart of Orange County, Tustin embraces both the historical past of citrus groves and the promising future of a vibrant 21st Century economy. From rustic Old Town Tustin to vital Tustin Ranch and the emerging Legacy development, Tustin is the place that 70,339 people, many families and businesses choose to call home. Tustin is the most dynamic city in Orange County and a significant contributor to Orange County’s world-competitive economy. Families choose to live in Tustin because of its central location and small town feel. Businesses choose to locate in Tustin because of its central location and easy access to transportation. The city is proud of its reputation for sound fiscal management and its progressive, business-friendly atmosphere.