We act as land use counsel in representing Lehman Brothers Holdings, Inc. (the bankruptcy estate for Leman Brothers) in connection with the redevelopment of the 3,700 acre Great Park Neighborhoods, formerly the El Toro Marine Airbase, in Irvine, California. Lehman Brothers and its affiliates are the lenders to a Lennar affiliate that acquired the project in 2005 for over $600 million, conveyed over 1,200 acres to the City of Irvine, and paid Irvine a $200 million development fee for the Great Park. The 1,200 acre Great Park will become the largest metropolitan park in the United States. We assisted our client, as the lender, in assisting the borrower in obtaining the approvals in 2009 of over 1,200 density bonus residential units, resulting in a project that is entitled for over 4,800 residential units and 3 million sq. ft. of commercial, retail, institutional, and other development. The Great Parks Neighborhood will be the largest development project in Orange County for the next decade.