T
he Ziggurat, Orange County's infamous brutalist concrete monument, has been sold to 33-year-old developer Cameron Hildreth's company, Hilco Development Services, for $177 million. The vacant Chet Holifield Federal Building and surrounding 90 acres of land in Laguna Niguel were acquired through a federal auction last month. Hildreth plans to demolish the seven-story pyramid, which he considers a "big question mark" in terms of its future use.

    Hilco has already applied to remove the historic covenant from the property's title, clearing the way for demolition and redevelopment. The U.S. General Services Administration had previously attempted to sell the Ziggurat with preservation requirements, but Hilco saw more potential after the rules were relaxed.

    The company plans to explore various options for the site, including housing or commercial use. With six months to close the deal, Hilco will have ample time to determine its next move. The property's value lies in its size and location, making it a rare find in Southern California.

    Hilco has grown rapidly since its founding in 2017, with projects worth nearly $1 billion completed or underway. However, the Ziggurat acquisition catapults the company into a new league, with backing from private investors and "big players" who are eager to see the property redeveloped.