Culminating nearly two years of ongoing discussions and planning, City of Hope acquired a 190,000-square-foot, four-story building and adjacent land for $108 million from Five Point Office Venture I, LLC, a joint venture of FivePoint, that is located within the FivePoint Gateway campus in Irvine, California. The campus is part of FivePoint’s Great Park Neighborhoods community.
City of Hope plans to immediately begin converting the building at 15161 Alton Parkway into its first comprehensive cancer center outside of its main campus in Duarte, California.
The May 28, 2020 announcement marks the beginning of a $1 billion investment by City of Hope to build a world-class cancer center in Orange County.
The center, along with a future acute care cancer hospital to be built by City of Hope on adjacent land, will anchor what FivePoint and City of Hope believe will one day become a regional hub for a larger wellness campus in the heart of Irvine with blue-chip physician groups, wellness specialists and related research and innovation activities.
It is a healthcare model FivePoint eventually plans to introduce in partnership with City of Hope into its other California communities.
It will be Orange County’s only specialty hospital dedicated solely to treating and curing cancer.
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