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demand is expected to be more regional in nature given the Project's accessibility and proximity to centers of <br />employment, the increasingly regional nature of the housing market, and the Project's market rate rental profile. <br />Table 1: Inventory and Growth in 3 Districts <br />Inventory and Growth in 3 Districts <br />Dyer South <br />Irvine Bus Com <br />Tustin Legacy <br />Multifamily <br />2019 Inventory (Units) <br />0 <br />8,592 <br />998 <br />Growth 2010-19 (Units) <br />0 <br />4,086 <br />998 <br />Growth Since 2010 (%) <br />0% <br />48% <br />100% <br />Retail <br />2019 Inventory (SF) <br />133,789 <br />1,181,459 <br />1,067,109 <br />Growth 2010-19 (SF) <br />0 <br />26,699 <br />88,465 <br />Growth 2010-19 (%) <br />0% <br />2% <br />8% <br />Office <br />2019 Inventory (SF) <br />1,939,711 <br />20,428,286 <br />517,217 <br />Growth 2010-19 (SF) <br />0 <br />787,290 <br />517,217 <br />Growth 2010-19 (%) <br />0% <br />4% <br />100% <br />Industrial <br />2019 Inventory (SF) <br />1,969,114 <br />10,699,791 <br />0 <br />Growth 2010-19 (SF) <br />0 <br />51,450 <br />0 <br />Growth 2010-19 (%) <br />0% <br />0.5% <br />0% <br />Flex <br />2019 Inventory (SF) <br />1,133,883 <br />6,180,044 <br />0 <br />Growth 2010-19 (SF) <br />9,000 <br />13,530 <br />0 <br />Growth 2010-19 % <br />0.8% <br />0.2% <br />0% <br />Source: Costar, AECOM <br />There has been significant growth of multifamily dwelling units in the 3 districts since 2010, and an additional 5,694 <br />units are in the current development pipeline, representing a further 50% growth in total inventory. Numerous <br />commercial projects are currently proposed or under construction in the 3 districts, including over 530,000 SF of <br />office, 230,000 SF of flex, and 420,000 SF of healthcare related facilities. Table 2 shows the current development <br />pipeline for the 3 districts. Figure 2 shows the recent construction and pipeline MFR projects in the vicinity of the Dyer <br />South Focus Area. <br />75C-632 <br />