IRVINE, CA-Developer Trammell Crow says it will build the first two high-rise residential towers in the history of this Orange County city, marking another milestone in the community’s transition from a sleepy suburb just a few decades ago to one of the West Coast’s most cosmopolitan areas.

The pair of 15-story towers will rise inside Park Place, the sprawling campus-style commercial project on the western side of the San Diego (405) Freeway at Jamboree Road. All of the nearly 2 million sf in the complex today is dedicated to office and retail use.

Dallas-based Trammell Crow currently plans on renting out the 360 housing units, says managing director William Lane. But the company could eventually decide to offer them as for-sale condominiums if market conditions change or simply sell the parcel it owns to another multifamily developer, Lane says.

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