In 1993, the Base Realignment and Closure Commission recommended closing MCAS El Toro and transferring its activities to Marine Corps Air Station Miramar.

In 2001, Orange County voters passed Measure W, authorizing the former air station's use as a central park/nature preserve and multi-use development.

The design was later modified to include a large section of runway and conform more to the layout of the original base, as a reminder of its history.

Councilmembers Christina Shea and Jeff Lalloway appointed themselves to a newly constituted City Council Subcommittee charged with overseeing the audit.

Through this two-person Subcommittee, Shea and Lalloway hired an accounting firm to conduct the audit: Hagen, Streiff, Newton & Oshiro (HSNO).

The Shea-Lalloway City Council subcommittee commissioned a forensic audit which claimed mismanagement of public dollars at the park.

[6] Ahead of the 2026 FIFA World Cup, an organization organized by tourism company Visit Anaheim called the OC Sports Commission was tasked with identifying a potential site to host one or multiple national teams in Orange County as a team base camp.

[18][19] The Cultural Terrace section in the southeast part of the park covers 248 acres (100 ha) and as of September 2021[update] is still in the planning stages.

[22][23] As of March 2021[update] 62 acres (25 ha) of the Cultural Terrace section were leased to a company that operates a green waste and recycling plant there.

[24] On April 20, 2023, it was announced that the architectural firm SWA Group’s Laguna Beach branch released newly updated plans for the park, including extra room for the supposed 40-acre botanical garden should it be expanded in the future after it is built.

In addition to botanical gardens, there will be an outdoor amphitheater with 12,000 seats, a museum, lakes, farms, a library, more trails and playgrounds and a 200-acre sports park.

[16][27] Los Angeles Knight Riders, a franchise team that plays in Major League Cricket, plans to have their home ground at Great Park.