Saks Off Fifth is coming to Metro Pointe at South Coast. It is located in the same plaza as Nordstrom Rack and Edward Theater, right next to Marshall. Don't confuse this with the Saks Fifth Avenue at South Coast Plaza. Saks Off Fifth is where you want to go to get a good deal.
This will be the nearest outlet for us living in Irvine. Currently, for the nearest Saks Fifth Avenue Off 5th, I have to drive up to Orange Outlet (previously known as The Block of Orange), which is about 15 minutes drive. Now that it will be opening soon at South Coast, it will be less than 10 minutes drive.