Master planned community will include 12,000 residential units and
5.1 million square feet of commercial development
BAKERSFIELD, Calif.--(BUSINESS WIRE)--Dec. 6, 2016--
With today’s 5-0 vote, the Kern County Board of Supervisors unanimously
approved the development of Grapevine at Tejon Ranch, a new master
planned community in southern Kern County. The community will be located
adjacent to the Tejon Ranch Commerce Center near the base of the
foothills in the southern San Joaquin Valley.
"We are very pleased the Kern County Board of Supervisors has approved
these entitlements for Grapevine at Tejon Ranch,” said Gregory S.
Bielli, President and CEO of Tejon Ranch Company. “This new community
will support the thousands of jobs already in the area and will serve as
a catalyst for further economic development and job creation in the
region.”
The development plan for Grapevine at Tejon Ranch calls for 12,000
residential units and 5.1 million square feet of commercial space. The
community will develop along both sides of Interstate 5 and will provide
nearby residential opportunities for the thousands of workers currently
employed at businesses within the Tejon Ranch Commerce Center, as well
as support the attraction of future employers to further grow the
employment base at Grapevine.
“By securing approval of these entitlements for Grapevine, Tejon Ranch
Co. is taking an important step forward in unlocking the asset value of
Tejon Ranch,” Bielli added. “Grapevine is a vital component of our
strategic vision to create significant value as a fully integrated real
estate development company.”
In addition to Grapevine, Tejon Ranch Co. is engaged in other real
estate development efforts. They include the aforementioned Tejon Ranch
Commerce Center—and Outlets at Tejon; and the master planned residential
communities of Mountain Village at Tejon Ranch and Centennial at Tejon
Ranch. With Mountain Village, the Company is currently in the tract map
preparation stage of development, and in the case of Centennial, having
already received the necessary zoning and land-use designations from Los
Angeles County, the Company is now working with the Los Angeles County
Department of Regional Planning to finalize the Centennial Specific Plan
for public review.
Sustainable Development
Residents of Grapevine will enjoy a state-of-the-art community and
active lifestyle in a beautiful foothill setting. All of the homes and
commercial buildings within Grapevine will include solar panels,
consistent with Tejon Ranch’s commitment to sustainable development. The
community will be designed in a way that promotes water efficiency and
will be developed as an extremely walkable community, with an extensive
network of bike and walking trails, and with key retail and commercial
uses being located within close proximity to residential areas.
The Supervisors were effusive in their praise for the community, noting
its environmental sensitivity, the care and planning that went into its
design, and the role Grapevine will play in the future of Kern County.
“Tejon Ranch should be thanked for its commitment to the environment and
conservation, something which often gets overlooked,” said 4th
District Supervisor David Couch.
In presenting the Kern County Planning Department’s recommendation to
the Board of Supervisors, Director Lorelei Oviatt called Grapevine a
comprehensive, connected, well-planned economic growth center.
Community Details
The community plan for Grapevine involves 8,010-acres of the
270,000-acre Tejon Ranch. 4,200 acres within the plan is designated and
zoned for residential, commercial and civic uses, including public
services, education, and medical opportunities. These uses will be
grouped into six different mixed-use villages, which will be developed
over an expected 20-year time period. 3,800 acres within the plan is
designated as open space, with agriculture, recreation, and grazing as
the primary uses, and will connect to 240,000-acres of open space and
recreation on Tejon Ranch.
Next Steps
With today’s approval by the Board of Supervisors, Tejon Ranch Co. will
begin the process of seeking and obtaining a number of discretionary
permits from regional, state and federal agencies, and will begin the
tract mapping process, which includes preparation of detailed
engineering work necessary for construction to begin.
About Tejon Ranch
Tejon Ranch Co. (NYSE: TRC) is a growth-oriented, 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 on our website at www.tejonranch.com.
View source version on businesswire.com: http://www.businesswire.com/news/home/20161206006462/en/
Source: Tejon Ranch Co.
Tejon Ranch Co.
Barry Zoeller, Vice President of Corporate
Communications & Investor Relations
(661) 663-4212
bzoeller@tejonranch.com
