Centennial at Tejon Ranch Is Setting New Standards for Fire Safe, Sustainable, Affordable Master Planned Communities in California
In a major new agreement, the master planned community of Centennial, which has already committed to include 18% affordable housing units, will now achieve a net zero carbon project status that exceeds California’s climate goals; and include new wildfire resilience measures to significantly enhance safety both in and outside the community.
Centennial, which has committed to include 3,480 affordable housing units as a part of its
The enhanced climate and wildfire resilience measures contained in the agreement set a new standard for development in
As part of the agreement, Climate Resolve has agreed to dismiss with prejudice its claim that the
With the dismissal of the lawsuit,
The agreement includes the following measures and features.
- Net Zero GHG Emissions: The community commits to net zero GHG emissions by reducing to zero all emissions through significant on-site and off-site commitments. A large component prioritizes disadvantaged communities, followed by other projects within
Los Angeles County , and other parts of southern and centralCalifornia . - Electric Vehicle Advancement: Advance the EV future through commitments to install almost 30,000 chargers within and outside the community. Provide incentives to support the purchase of 10,500 electric vehicles.
- Wildfire Prevention: Funding for on-site and off-site fire protection and prevention measures, including fire-resilient design, planning, and vegetation management with benefits to neighboring communities.
- Unrivaled Transparency: Provide annual public reports and create an organization empowered to monitor progress to ensure the agreement results in the benefits identified.
“We are pleased to reach this agreement with Climate Resolve that will enable us to address California’s housing crisis in the most sustainable manner possible,” said
“Working with
Both
CONTACT:
For
bzoeller@tejonranch.com (661) 663-4212
For Climate Resolve:
blindblad@climateresolve.org (213) 634-3790 x 102
Forward-Looking Statements
This press release contains forward-looking statements, including without limitation statements regarding our commitments under the Settlement Agreement and certain aspects of our real estate operations. In some cases, these statements are identifiable through use of words such as “commit” and “will.” These forward-looking statements are not a guarantee of future performance, are subject to assumptions and involve known and unknown risks, uncertainties and other important factors that could cause the actual results, performance or achievements of the Company to differ materially from any future results, performance, or achievement implied by such forward-looking statements. These risks, uncertainties and important factors include, but are not limited to, the impacts of COVID-19 and the actions taken by governments, businesses, and individuals in response to it, success in obtaining various governmental approvals and entitlements for land development activities, and the risks described in the section entitled “Risk Factors” in our annual and quarterly reports filed with the
Source: Tejon Ranch Co