BUILDERS SIGN FOR 4,000 ACRES; NEW TOWN PROPOSED ON TEJON RANCH.Byline: Jason Takenouchi Staff Writer This home of cattle pastures and rolling hills Rolling hills are like a mountain chain, only a "hill chain" of hills that roll on and on continually. You will often find them in between plains and mountains, near major rivers, or randomly anywhere. The only places without rolling hills are deserts and flood plains. may soon sprout its first strip malls and housing tracts. The Tejon Ranch Tejon Ranch Company is the largest private landowner in California. It was incorporated in 1936 to organise the ownership of a large tract of land originally comprised of four Mexican land grants, and began ranching in the 1840's. Co., owner of the 270,000-acre ranch, Tuesday announced signing a letter of intent with three builders to develop a 4,000-acre planned community Noun 1. planned community - a residential district that is planned for a certain class of residents residential area, residential district, community - a district where people live; occupied primarily by private residences . The proposed site on the southern end of the ranch is near the intersection of Interstate 5 and Highway 138, just south of the Los Angeles County-Kern County line. ``We think this is the next pioneering area for growth,'' said Robert A. Stine, president and chief executive officer of Tejon Ranch Co. ``We and the homebuilders think the prospects are excellent.'' Stine said Tejon and the three builders - Pardee Construction Co., Lewis Investment Co. LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control and W.L. Homes LLC - have not decided how many homes would be built on the 4,000 acres. Regardless of its size, there could be some major hurdles for the planned community, said Dave Vannatta, planning deputy for county Supervisor Michael D. Antonovich Michael Dennis Antonovich (born 1939 in Los Angeles, California) is a member of the Los Angeles County Board of Supervisors representing the Fifth District, which covers northern Los Angeles County, the Antelope, Santa Clarita, Pasadena, and parts of the San Fernando and San . ``They have an awful lot of work to do,'' Vannatta said. ``They're basically starting from scratch.'' Because it is far from a major urban area, he said, it would be highly expensive per capita [Latin, By the heads or polls.] A term used in the Descent and Distribution of the estate of one who dies without a will. It means to share and share alike according to the number of individuals. to provide services such as fire and police protection, schools and libraries. ``Those are going to have to be provided by somebody, and we told them it wasn't going to be the county,'' he said. ``It's going to have to be them.'' Stine said the Tejon Ranch Co. is studying its options, including the possibility of incorporating the area as its own city. If completed, the community would be the first major housing development on the ranch. But for the Tejon Ranch Co., it would be just the latest in a string of firsts. The company's new industrial center, the 350-acre Tejon Industrial Complex, got its first tenant last month. And the company recently signed an agreement with Enron Capital & Trade Resources Corp., a subsidiary of Enron Corp., to build a $500 million power plant on the property. The company is also working toward a listing on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. , a move that would give it broader exposure than its current listing on the American Stock Exchange American Stock Exchange (AMEX) Stock exchange in the U.S. Originally known as “the Curb,” it began as an outdoor marketplace in New York City c. 1850. It moved indoors to its present location in the Wall Street area in 1921. . CAPTION(S): map Map: Proposed Tejon Ranch 4,000 acre community |
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