RITTER BUILDING IN WORKS DEVELOPER WILL START 7,200-HOME SITE SOON.Byline: Evan Pondel and Charles F. Bostwick Staff Writers PALMDALE - The Irvine-based company whose $57.2 million bid in a bankruptcy court bankruptcy court n. the specialized Federal court in which bankruptcy matters under the Federal Bankruptcy Act are conducted. There are several bankruptcy courts in each state, and each one's territory covers several counties. auction bought it the long-stalled Ritter rit·ter n. pl. ritter A knight. [German, from Middle High German riter, from Middle Dutch ridder, from r Ranch development hopes to begin construction by early next year. People could begin living in the 7,200-home community - spread out across 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. and valleys in west Palmdale - by the end of 2005, a company official said. ``SunCal is very excited to be involved with the Ritter Ranch property. We think it's a marquee site and we are looking forward to developing Ritter Ranch as a premium master-plan community,'' said Frank Faye, president of SunCal Companies' Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. division. SunCal Companies' parent company, SCC SCC - strongly connected component Acquisitions Inc., beat out three other companies after 75 rounds of bidding Aug. 5 in U.S. Bankruptcy Court for Ritter Ranch, stalled by eight years of financial problems, legal maneuvers and bankruptcy proceedings bankruptcy proceedings n. the bankruptcy procedure is: a) filing a petition (voluntary or involuntary) to declare a debtor person or business bankrupt, or, under Chapter 11 or 13, to allow reorganization or refinancing under a plan to meet the debts of the party . SunCal doesn't anticipate any problems developing the land. Faye said there is ``nothing unusual'' about the property, which will take about 10 years to complete. When it is finished, Ritter Ranch could add upward of more than; above. See also: Upward 20,000 new residents to Palmdale, which now has more than 131,000. Ritter Ranch is planned next to the 5,200-home Anaverde master-plan community, now under construction. Approved in the early 1990s but never built because the Antelope Valley's 1980s real estate boom busted, Ritter Ranch is to contain a range of upscale homes, a golf course, seven schools and 7,500 acres of open space. SunCal has been developing master-plan communities since 1973, with several properties throughout Southern California Southern California, also colloquially known as SoCal, is the southern portion of the U.S. state of California. Centered on the cities of Los Angeles and San Diego, Southern California is home to nearly 24 million people and is the nation's second most populated region, . Right now it is working on a waterfront home project at Oxnard's Channel Island Harbor and the Tesoro del Valle development outside Santa Clarita Santa Clarita, city (1990 pop. 110,642), Los Angeles co., S Calif., suburb 30 mi (48 km) NW of downtown Los Angeles, on the Santa Clara River; inc. 1987. Situated in the Santa Clara valley and nearby canyons, Santa Clarita includes the former towns of Canyon Country, . In Castaic, SunCal also has a lawsuit pending against Newhall County Water District for denying service to the 3,900-home Northlake development, which the water district says it may not have enough water to supply. Rancho Etiwanda is among SunCal's more recent projects. The 202-acre community in Rancho Cucamonga includes six different neighborhoods with lots ranging from 2,600 to 4,000 square feet. ``They did a very good job, doing everything they said they would do. They built the parks, streets and community trails, meeting all of the city's standards,'' said Larry Henderson, principal planner for Rancho Cucamonga. Locally, privately held SunCal developed Westport at Mandalay Bay in Ventura County. The mixed-use community includes 318 housing units on lots ranging from 4,000 to 5,500 square feet. CAPTION(S): photo, map Photo: The land for the Ritter Ranch development, which SunCal Companies bought at auction, is currently covered with cottonwood trees. Jeff Goldwater/Staff Photographer Map: Ritter Ranch Daily News |
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