Now I Know

I've always wondered what a military base costs. Now I know.

IRVINE, California (AP) -- A giant homebuilder won an online auction of a former Marine base, agreeing to pay $1.05 billion for the Orange County tract once pegged for an airport.

Lennar Corp. will build 3,400 homes on part of the 3,718 acres, and another section of the land is slated to become one of the nation's largest urban parks. The rest will be used for retail centers and industrial parks, the Miami-based developer said.