@valueaddking: If you grew up in Orange County, you probably remember Boomers in Fountain Valley. The go-karts, miniature golf, arcade games, and birthday parties. For years, this was a place where families came to have fun. Now, that same property has sold for $28.25 MILLION. And what they’re planning to build next is even crazier. In July 2026, Holland Partner Group purchased the former Boomers property in Fountain Valley. The site sits on approximately 6.87 acres. And instead of bringing back the amusement park, the plan is to build 657 apartments. That’s right. 657 homes on land that used to have go-karts and miniature golf. The development also includes 78 apartments designated for lower-income households and roughly 4,460 square feet of retail space. The estimated development cost is more than $361 million. But here’s where the numbers get interesting. They paid $28.25 million for the land. Divide that by 657 proposed apartments, and you’re looking at roughly $43,000 in land cost per unit. Now, that doesn’t include construction, permits, financing, or any of the other expenses that come with developing a project this size. But it shows you how developers look at real estate differently. Most people drive past an old amusement park and remember the memories they made there. A developer looks at the same property and sees nearly seven acres of land with the potential to house hundreds of families. And that’s exactly what’s happening across Southern California. As land becomes harder to find and housing continues to be expensive, developers are looking at older commercial properties and asking one question. What else could we build here? The city approved the project in 2025, and the property changed hands in 2026. Construction has not yet been confirmed as underway. For some people, this is the end of a piece of Orange County history. For others, it’s an opportunity to bring hundreds of new homes to a city that needs housing. So here’s my question. Would you rather see Boomers come back, or 657 new apartments take its place? Let me know in the comments. Follow @valueaddking for more Southern California real estate development news. Source: Orange County Business Journal — September 2026.

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Friday 23 October 2026 04:14:12 GMT