Times are still good for American Funds. Capital Group, the advisor to the fund giant is planning to build a new corporate campus down the freeway from its headquarters. The 35-acre Irvine campus will cover 520,000 square feet, including five buildings and three parking garages, reports the Orange County Business Journal.

While Capital Group said it will retain its existing headquarters, it does plan to move 2,300 of its employees to the site that will eventually house up to 3,000 workers. What types of jobs will be moved was not disclosed. It also is reserving space for an additional building in case it needs more space.

The first employees should be able to move to the building in 2007. The construction is being overseen by San Francisco-based Hathaway Dinwiddie Construction Co. while Pei Cobb Freed & Partners LLP of New York City and Irvine-based LPA Inc. are the architects.

The construction comes on the heels of the fund firm's November decision to add an 110,000 square foot call center in the Phoenix-Scottsdale area. American Funds already operates four call centers around the nation. 

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