While Anaheim’s Platinum Triangle gets more attention for its frenzied pace of development, the downtown area will add hundreds of new homes of its own over the next two years.

Called East South Street by its developer, the project will convert 20.7 acres along the railroad tracks south of East Santa Ana Street from an industrial complex into apartments for rent and townhomes for sale.

The plan for 546 homes in Spanish, modern and Craftsman styles won approval from the city’s Planning Commission on Nov. 29. Shopoff Realty Investments, the Newport Beach-based developer, expects to break ground early next year, and the first homes could be available six months after that, said James O’Malley, Shopoff’s vice president of development.

It’s not the only housing development in the works downtown – city spokesman Mike Lyster pointed to 220 apartments being built a few blocks from the West Center Street Promenade and 42 townhomes just east of Shopoff’s project. But East South Street would be by far the largest.

O’Malley said the East South Street development was intended to look open and inviting, so it’s not surrounded by walls, the homes’ front doors face the street, and walking trails surround the homes.

Though the property is largely bordered by homes, no residents raised objections to the plan, perhaps because its 1,377 parking spaces exceed city requirements by two dozen spaces, Lyster said.

Parking, or a lack of it, is a common concern with new development in the city.

O’Malley declined to give a price range for the new homes, but said the apartments would rent at market rate and the for-sale homes are “designed to be attainable” for first-time buyers and young families.

The developer didn’t consider including homes for low-income residents, he said, but added that some housing experts say simply adding more homes to the market can help lower their cost.

“One of the concerns with the price of housing is it’s a commodity,” he said, “and there simply isn’t enough of it.”

About East South Street

What: Newport Beach-based Shopoff Realty Investments will build 546 homes on 20.7 acres

Where: The neighborhood is planned at 901 E. South St.

When: Officials plan to break ground in early 2018; construction could take about two years to complete.

Details: It will include 314 apartments, 160 townhomes and 72 single-family homes, plus walking trails and other recreation amenities.