TEJON: 'PATH OF PROGRESS, GROWTH.Byline: Gregory J. Wilcox Real Deals 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. - The players are now in place and the contracts have been signed. The project doesn't have a catchy name yet, though, and details like the exact size still have to be worked out. But boy, is it going to be big. And it is the direction that residential growth in 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. County will be taking over the next decade. That will be north, along Interstate 5 toward Bakersfield. When Tejon Ranch Co. and its partners, three residential developers, start turning dirt on the 4,000-acre project the city will have finally pushed into some of the last wild land on the northern fringes of Los Angeles County. Tejon last week inked a development deal with Pardee Construction Co., Lewis Investment Company LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control and Standard Pacific Corp., three of the nation's biggest developers. This partnership will design and develop a master-planned community near Interstate 5, State Highway 138, and Quail Lake Quail Lake is a lake near the San Andreas Fault in Los Angeles County, California, United States. It is located along the north side of State Route 138, and lies along the West Branch California Aqueduct. . Preliminary estimates put the number of housing units at 7,000. Founded in 1843, Tejon Ranch has diversified interests and huge holdings. It owns 270,000 acres in Los Angeles and Kern counties and specializes in real estate, livestock, farming and natural resource management. The company will develop its land along transportation corridors into master-planned business and residential communities. Doug Ford There are a number of notable figures named Doug Ford, including:
``It depends on the terrain, the land itself and a lot of other factors,'' he said. ``But it will be a balanced community with schools, shopping centers, parks and open space.'' The planning, design and environmental work will start this year, and it will take several years to get it through the various permitting agencies. Dale Casey, vice president of development planning for Standard Pacific Corp., said his company is excited about the development's prospects. Standard's portion of it will be managed by the company's Westlake Village-based unit. ``It's the path of progress and growth. Valencia has just taken off tremendously and five or 10 years down the road the Tejon area will be the beginning of another Valencia,'' he said. Two things he likes are the area's topography and climate. ``There are some very beautiful plateaus 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. that abut To reach; to touch. To touch at the end; be contiguous; join at a border or boundary; terminate on; end at; border on; reach or touch with an end. The term abutting implies a closer proximity than the term adjacent. the forests out there,'' Casey said. The development is going to make a dent, albeit a small one, in the region's housing crunch, although by the time homes are actually released for sale the region's population will be even bigger. Typically, new homes account for about 20 percent of all home sales, but today the percentage is about 15 percent. ``There just aren't enough newly built homes on the market,'' said John Karevoll, an analyst at Acxiom/DataQuick, a La Jolla-based real estate market research firm. ``There is a screaming need in Los Angeles, Orange and San Diego San Diego (săn dēā`gō), city (1990 pop. 1,110,549), seat of San Diego co., S Calif., on San Diego Bay; inc. 1850. San Diego includes the unincorporated communities of La Jolla and Spring Valley. Coronado is across the bay. counties. They all have an undersupply un·der·sup·ply n. pl. un·der·sup·plies A supply smaller than what is appropriate or required. tr.v. un·der·sup·plied, un·der·sup·ply·ing, un·der·sup·plies of new homes.'' Tejon is also involved on the commercial and industrial side. The company is currently developing Phase I of its Tejon Industrial Complex of 3.5 million square feet on 350 acres. It is the company's vision of a planned commercial, industrial and residential development along 16 miles of I-5 Freeway frontage in Kern County just north of the Los Angeles Basin The Los Angeles Basin is the coastal sediment-filled plain located between the peninsular and transverse ranges in southern California in the United States containing the central part of the city of Los Angeles as well as its southern and southeastern suburbs (both in Los Angeles . It is designed to be a major center for distribution, warehousing and manufacturing with direct access to Los Angeles, Northern California and the Central Valley. BROKER BUZZ --JIJ Design Inc., a designer and importer of home furnishings, has bought a 40,000-square-foot industrial building in Sylmar for $2.2 million. The new building, on 1.5 acres at 1288 Bradley Ave., doubles the company's plant capacity. JIJ JIJ Japan Industrial Journal JIJ Job in Jeopardy Design, a privately held company privately held company A firm whose shares are held within a relatively small circle of owners and are not traded publicly. , was formed in 1984 and employs 25 people. The company distributes everything from small porcelain vases to giant sculptures and candelabra. Ross Thomas, a partner in Van Nuys-based Delphi Business Properties, represented the company in the transaction. --Calabasas-based Countrywide Credit Industries Inc. funded $3.7 billion in loans during February and the pipeline of loans in process totaled $8.5 billion at month's end. Meanwhile, the company's servicing portfolio increased to $250 billion last month, 16 percent higher than a year ago. CAPTION(S): map Map: Proposed Tejon Ranch 4,000-acre community |
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