Newhall Ranch: New owners for same proposed mega-project

February 04, 2004
Santa Paula News

It’s new owners for the same proposed mega-project as the deal between Newhall Land & Farming Co. and two Florida development companies has been finalized.

By Peggy KellySanta Paula TimesIt’s new owners for the same proposed mega-project as the deal between Newhall Land & Farming Co. and two Florida development companies has been finalized.The 121-year-old Newhall Land & Farming Co. owns both the proposed Newhall Ranch development – up to 22,000 homes slated for the Los Angeles portion of the Santa Clara River Valley – as well as 16,000 acres of land in Ventura County devoted to farming. The company also sold about 14,000 acres near Merced.Lennar Corp. and LNR Property Corp., two Florida-based development companies purchased the holdings.The deal, which was not without controversy, was finalized at $40.50 a share after running a gamut of approvals including from the Public Utilities Commission.
The Los Angeles County Board of Supervisors approved the construction of Newhall Ranch last year on the land just east of the Ventura-Los Angeles county line along Highway 126.The hotly contested proposed development pitted environmentalists, cities and the County of Ventura – especially Supervisor Kathy Long who represents the Santa Clara River Valley - against the developer. A lawsuit filed by the county against Newhall Land & Farming was joined by Santa Paula and later settled when water and other environmental protection issues were agreed to.A major sticking point with the first Newhall Ranch EIR was the lack of planned affordable housing; the EIR noted that Piru, Fillmore and Santa Paula could house the army of low-income workers that would work in the new development. After an outcry from Ventura County Supervisor Kathy Long and other county officials, the revised Newhall Ranch EIR contained affordable housing.When complete, Newhall Ranch will be home to over 60,000 people, a size comparable to Camarillo. The development will also include schools, parks, shopping, a hotel and golf courses.



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