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Stock impact report

Deal for new city at Newhall Ranch fuels development boom transforming northern L.A. County [Los Angeles Times (CA)]

Tejon Ranch Co (TRC) 
US:NYSE Investor Relations: ir.tejonranch.com
Deal for new city at Newhall Ranch fuels development boom transforming northern L.A. County One of Southern California longest-running and ugliest development battles ended in a historic truce Monday when environmental groups agreed to a deal that will allow a new city of 58,000 residents to rise in the Newhall Pass area. The pact clears perhaps the largest remaining hurdle for the Newhall Ranch project, which was proposed during the development boom of the 1980s and has been stalled repeatedly by protests, legal challenges and even criminal investigations. Newhall Ranch will join other large developments in the works along the Interstate 5 corridor that together are likely to transform one of the last undeveloped sections of Los Angeles County. To the north, developers built a massive outlet mall and are planning a housing and resort project at Tejon Ranch. The project comes amid a severe housing crunch across California that has caused rents to rise dramatically and pushed cit Show less Read more
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