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Presley Cos. Sues Over Rare-Butterfly Ruling

O.C. BUSINESS PLUS | O.C. BRIEFLY

August 11, 1999|Dow Jones

A housing development involving Presley Cos. near San Jose apparently has run afoul of a rare butterfly.

Newport Beach-based Presley and Cerro Plata Associates filed a lawsuit to obtain permits to allow their 538-home Ranch at Silver Creek development near San Jose to move forward.

The U.S. Fish and Wildlife says the development site is home for the Bay Checkerspot butterfly, an endangered species, but the lawsuit contends the butterfly has not been on the property for nearly five years.

In addition, Presley said the project establishes 71 acres as a restoration area for the butterfly, as well as other open acreage. More than 50% of the total acreage will be a protected environmental habitat, and the remaining 33% will be developed into a golf course.

Presley's Presley Homes unit is a member of Cerro Plata, which is the project developer.

Newport Beach-based Presley is a construction company that primarily builds and sells single-family attached and detached houses.

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