September 30, 2000 |
Newhall Land & Farming Co. said it has terminated its partnership with Kaufman & Broad Home Corp. to develop the 1,900-acre City Ranch development in the Antelope Valley. The breakup will result in a $4.5-million loss that Newhall Land will record in its third-quarter earnings period. Newhall Land, which developed the planned community of Valencia, said it pulled out of the project to focus its financial resources on repurchasing its partnership units.
April 1, 2000 |
Kaufman & Broad Home Corp. and Centex Homes, two of the nation's largest home builders, announced they will eliminate the use of wood from old-growth forests in their new-home construction. Los Angeles-based Kaufman & Broad--which builds about 22,000 homes a year--in partnership with the environmental group Natural Resources Defense Council, is developing a plan to phase out dozens of wood products from endangered forests, including Douglas fir and cedar.