One of the most interesting things happening at the Orange County Great Park this year isn't a concert or a home release — it's a 30,000-square-foot building most people drive past without a second look. It's called Building 369, and the City of Irvine is retrofitting this old El Toro base-era structure into what's set to be one of the largest standalone flexible indoor event spaces in Orange County. The City expects construction to begin in summer 2026, and it quietly signals the next big phase of the Great Park: the Cultural Terrace.
I pay attention to this stuff because development phasing is one of the clearest tells for where a neighborhood is headed — and by extension, where home values follow. The amphitheater got the headlines. Building 369 is the follow-through.
What Building 369 actually is
Rather than bulldoze and start over, the City is doing an adaptive reuse of an existing 30,000-square-foot structure left over from the Marine Corps Air Station El Toro days. When it's done, it's designed to be the City's preeminent event center — a flexible indoor venue with additional indoor/outdoor overflow space, run by the City of Irvine. Think galas, expos, community events, performances, the kind of mid-to-large gatherings that Irvine currently has to send elsewhere.
The "adaptive reuse" part is what I find genuinely cool. This is a piece of the old air station being kept and repurposed rather than erased — a nod to the history of the land the entire Great Park sits on. A City project update on Building 369 was presented in March 2026, so this is an active, funded effort, not a someday-maybe rendering.
Why the Cultural Terrace is the real story
Building 369 doesn't stand alone. It anchors the Cultural Terrace, the Great Park's emerging museum-and-arts district — and this is the part buyers should have on their radar.
The Cultural Terrace is being built out to host a cluster of cultural institutions, including Pretend City Children's Museum, the Flying Leatherneck Aviation Museum, Orange County Music & Dance, and an Asian American History Museum. The Flying Leatherneck museum — a roughly $63 million project — broke ground last fall and is targeting an early 2027 opening, with utilities and site work already laying the groundwork for the other partners to follow.
Put it together and you get the picture: within a couple of years, the Great Park won't just have sports fields and an amphitheater. It'll have a genuine arts-and-culture campus, with Building 369 as the flexible event heart of it. That's a different kind of amenity than a park or a pool. It's the sort of thing that makes a place a regional destination.
What this means if you own or are buying near the Great Park
Here's my honest read as someone who sells in these villages week in and week out.
Amenities arrive in a predictable order in a master-planned community like this. First the homes and parks, then the schools, then retail, then the marquee civic and cultural pieces. The Great Park is now hitting that last stage — the Canopy retail center opening, the amphitheater established, and now a cultural district taking shape. Each of those milestones tends to reinforce demand for the homes wrapped around the park, because buyers aren't just buying a house anymore; they're buying access to a place that keeps getting more to do.
I want to be measured about it, though. A single event venue doesn't move a specific home's price on its own, and construction phases bring the usual near-term noise, traffic, and timelines that slip. What Building 369 really does is de-risk the story. For years, buyers out here were partly betting on renderings. Every project that actually breaks ground turns a promise into a fact — and that steady conversion from "planned" to "built" is exactly what supports long-term value in a community like the Great Park Neighborhoods.
If you own here, this is a reason for quiet confidence. If you're buying, it's a reason to look closely at how close a given home sits to the Cultural Terrace — near enough to walk to a museum morning is great; directly against event load-in and parking is a different daily experience. That's a street-level conversation I'm always glad to have before you commit.
Frequently Asked Questions
What is Building 369 at the Great Park?
Building 369 is an adaptive reuse of an existing 30,000-square-foot former El Toro base structure in Irvine's Great Park. The City of Irvine is retrofitting it into a flexible indoor event center — set to be one of the largest standalone indoor event spaces in Orange County — with indoor/outdoor overflow.
When does construction on Building 369 start?
The City of Irvine expects construction to begin in summer 2026, per its "What's New at the Great Park in 2026" update, following a project update presented earlier in the year.
What is the Great Park Cultural Terrace?
The Cultural Terrace is the Great Park's emerging museum and arts district. Planned institutions include Pretend City Children's Museum, the Flying Leatherneck Aviation Museum, Orange County Music & Dance, and an Asian American History Museum, with Building 369 as its flexible event venue.
How does Great Park development affect home values?
Each milestone that moves from "planned" to "built" — retail, the amphitheater, and now a cultural district — tends to reinforce demand for surrounding homes by making the area a stronger destination. It's long-term support for value rather than an overnight bump.
Which Irvine neighborhoods are closest to the Cultural Terrace?
The Great Park Neighborhoods villages sit closest to the Cultural Terrace and Building 369. Exact proximity varies by street, so it's worth mapping a specific home against the district before buying.
Curious how the Great Park's next phase affects your home?
Whether you already own near the Great Park or you're weighing a move here, I'm happy to walk you through how the Cultural Terrace and projects like Building 369 line up against specific streets and price points. No pressure — just a grounded read from someone tracking this park closely. Reach out anytime.