OXNARD — A unanimous decision by the Ventura County Local Agency Formation Commission to allow this city to annex 243 acres of unincorporated land between the Santa Clara River and the rural community of El Rio has opened the way for a $500-million development of 265 acres to be known as the Oxnard Town Center.
The Robert P. Warmington Co. of Costa Mesa, with offices in Newbury Park, plans to develop the property with high-rise office buildings, a 1-million-square-foot shopping mall, 1,100 hotel rooms, restaurants and industrial buildings. It set a target date of 1997 for completion of the project.
The project will be the largest multi-use commercial development on Ventura County.
Construction is expected to begin within nine months, according to Richard Maggio, Oxnard's community development director.
New U.S. 101 freeway ramps will be built near the center and the Santa Clara bridge will be widened.
Oxnard and the city of Ventura have agreed to contribute toward the cost of widening the bridge, and the developer has agreed to spend $625,000 on air pollution control measures.
In return for the acreage to be annexed, Ventura County will receive from Oxnard 243 acres of land between Rose Avenue and Vineyard Avenue, which is to be designated open space.
Oxnard city officials estimate that with property sales, and hotel bed taxes, the center will generate net annual revenues of $3.7 million, which will enable the city to provide additional government services, such as police and fire protection, street repairs and general maintenance.