Housing glut? Not in Newhall Ranch
Good morning, and Happy New Year. Conventional wisdom says homebuilders are going into hibernation. The Daily News reports otherwise: "The first phase of the massive 21,000-home Newhall Ranch project, Landmark Village, is set for a final review next week by the county Regional Planning Commission. The five-member panel has tentatively approved the tract -- 1,444 single-family homes, apartments and condominiums proposed on the banks of the Santa Clara River abutting the Ventura County line."
Environmental groups dont' like the project, which would develop farmland west of Santa Clarita. The DN reports Newhall Land was hoping to begin construction in 2009 on what it calls "one of the largest developments ever proposed in California."
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Hat tip: LA Observed