Irvine Co.’s Bren Says Master-plan Cities Not Feasible

Government regulation and the lack of patient capital make it unlikely a major, new master-planned community could succeed in the U.S., said Donald Bren, chairman of Irvine Co.

“I’m not sure that a major community development is a predictable business,” Bren, 79, said today during a talk at the Urban Land Institute conference in Los Angeles. “Government regulations and environmental restrictions have become so overwhelming for large-scale projects that they’re not feasible.”