Los Angeles County Board of Supervisors Support Centennial at Tejon Ranch
December 11 2018 - 5:10PM
Business Wire
By a vote of 4-1, board takes action to approve
Tejon Ranch Co.’s master planned mixed-use residential
community
The Los Angeles County Board of Supervisors today took action to
approve the specific plan for Centennial at Tejon Ranch, a master
planned mixed-use residential community located in the northwest
Los Angeles County section of Tejon Ranch. Centennial consists of
19,333 residential units and more than 10.1 million square feet of
commercial space. By a vote of 4-1 the Board of Supervisors
affirmed the recommendation of the Los Angeles County Regional
Planning Commission and Department of Regional Planning that
Centennial be approved. Located in the Western Economic Opportunity
Zone designated in the Antelope Valley Area Plan and the Los
Angeles County General Plan, Centennial, in addition to much-needed
housing, is projected to create more than 23,000 permanent jobs on
site and nearly 25,000 construction jobs.
“We want to thank the Board of Supervisors for its support of
Centennial, which is an important part of our vision to engage in
the environmentally-sustainable development of a portion of Tejon
Ranch,” said Gregory S. Bielli, President and CEO of Tejon Ranch
Co. “California, and Los Angeles County in particular, is suffering
from a severe housing deficit. Our regional development plan will
help address our state’s housing crisis, all the while preserving
240,000 acres of open space within Tejon Ranch.”
Tejon Ranch Co.’s (NYSE: TRC) regional development plan includes
nearly 35,000 housing units and more than 35 million square feet of
commercial space, all divided amongst four master planned
developments: the Tejon Ranch Commerce Center, the company’s
growing commercial/industrial center, and three planned residential
communities—Mountain Village, Grapevine and Centennial.
“This is an important step forward for Tejon Ranch Co.,” Bielli
added. “Centennial is the final of our master planned developments
to go before a local jurisdiction for approval. We look forward to
advancing each of these projects as we develop Tejon Ranch,
California.”
About Tejon Ranch Co.
Tejon Ranch Co. is listed on the New York Stock Exchange under
the symbol TRC. Tejon Ranch is a diversified real estate
development and agribusiness company, whose principal asset is its
270,000-acre land holding located approximately 60 miles north of
Los Angeles and 30 miles south of Bakersfield. More information
about Tejon Ranch Co. can be found online at
www.tejonranch.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20181211005964/en/
Barry Zoeller – (661) 663-4212, Tejon Ranch Co.
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