September 23, 2010 |
Just another day in â¦ Awesometown. Newhall Land Development has used a variety of marketing slogans over the years to sell homes and recruit new residents to Valencia, its master-planned community in the city of Santa Clarita. "Built as promised" was kind of a snooze. So was "The place to be. " But the website, print ads, billboards and banners now branding Valencia as "Awesometown" are generating plenty of buzz over the relative awesomeness — or lack thereof — of the massive development 33 miles north of Los Angeles.
November 6, 2008 |
A key creditor of LandSource Communities Development wants the bankrupt developer to sell its 15,000-acre tract of land north of Los Angeles to repay $1.1 billion in loans. Barclays Bank, agent for the lenders who made the loans, proposed a plan that would grant some creditors the right to trade the debt owed to them for some of LandSource's property through a bidding process. Barclays filed the proposal in U.S. Bankruptcy Court in Wilmington, Del., on Oct. 13.
May 10, 2008 |
LandSource Communities Development, the land development company that owns Newhall Land & Farming Co., has defaulted on a $1.1-billion loan but is working with lenders to restructure the terms, a company spokeswoman said Friday. LandSource declined to disclose the amount of default, but a bankruptcy filing could put building plans for the massive 21,000-home Newhall Ranch community near Santa Clarita in jeopardy. "LandSource is still in discussion with the lenders on trying to find a way that they mutually can agree on how to restructure the loan," said Tamara Taylor, a spokeswoman for LandSource.
CALIFORNIA | LOCAL
October 10, 2003 |
The state Public Utilities Commission has decided not to hold public hearings into an out-of-state consortium's plans to take over a Santa Clarita water company as part of its proposed buyout of the Newhall Land & Farming Co. The Angeles Chapter of the Sierra Club, which asked for the hearings, is concerned about outside interests controlling the local water supply. Opponents may file briefs by Oct. 22, according to a PUC ruling. Florida-based Lennar Corp.
CALIFORNIA | LOCAL
August 4, 2003 |
Santa Clarita Valley residents have joked for years about living in a company town. Today, they are wondering what will happen now that the company -- Newhall Land & Farming Co. -- is being sold to out-of-towners. The 120-year-old agricultural and development firm has long been Santa Clarita's key power player, credited with transforming the area from orchards and ranchland into one of California's fastest-growing suburbs. When Florida-based Lennar Corp.
July 22, 2003 |
In a deal that would mean a massive shift of Southern California property, century-old Newhall Land & Farming Co. -- developer of the Valencia master-planned community and one of the state's largest landowners -- agreed Monday to be acquired for $990 million by a partnership based in Miami. The proposed sale would transfer vast tracts of land and the controversial Newhall Ranch project to the nation's third-largest home builder, Lennar Corp.