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Carmel Ranch to Open Today

June 14, 1987

Grand opening ceremonies will be held from 8 a.m. to 5 p.m. today at Carmel Mountain Ranch, a 1,500-acre master-planned community in San Diego County that will eventually include six neighborhoods of single-family homes and a research-and-development park that will employ 1,500 workers.

The project, 17 miles north of downtown San Diego, is a joint venture of Presley of San Diego and Home Capital Development Group, a subsidiary of Home Federal Savings & Loan.

About 300 of the planned 5,600 homes in the project have been completed, with prices ranging from $125,900 to $235,000. An 18-hole championship golf course is also finished.

The development will also include two parks, a nursing home and acute-care facility, a fire station and a 37,000-square-foot retail center when it is completed by 1995.

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