The SFV's last frontier, Porter Ranch, has a new development (actually not new) called the The Hidden Creeks Estates which calls for plans to build 188 single family homes at 12900 Browns Canyon Road above the Twin Lakes area. The project also adds two lots for public parks from a total of 285.1 acres. Also included are dedications for internal streets and conditional use permits for horsekeeping. The hearing is scheduled for Tuesday June 16, 2015 at 9:30 AM with the hearing notice below.
The project is being proposed by
Forestar Chatsworth LLC which links back to a company called Forestar USA Real Estate Group based in Dallas which appears to have acquired this land for $850K on September 9, 1997 and another adjacent property for an unknown amount on December 5, 2008 which was previously purchased by the Browns Canyon Group LLC on October 25, 1999 for $380K.
Speaking of developments, there is actually another project nearby called
Deerlake Ranch (see images below) being proposed from Foremost Companies based in Newport Beach that has an extensive portfolio of large project developments mostly in the Inland Empire area. This specific project has been in the works for at least 11 years if not more (LA County approved project in
2004 and see project plan from 2006 below). That plan calls for 314 homes over 230 acres. Foremost purchased this land which consists of 472 parcels on October 1, 2014 for $42,462,500 from
Presidio Chatsworth Partners LLC based in San Franciso. I believe Presidio acquired each of the 472 parcels over a number of years suggesting this project overall has been in the works for a long time.
Going back to the Hidden Creeks estate project, the average sale price of each home could easily be $1.3 million bringing in a total near $250 million which equates to at least $3 million in extra property taxes for the county. Keep that in mind when the City of LA makes a decision to approve this project or not at the next hearing meeting.
You can have all your concerns and questions already answered and resolved at the developer's website
here. According to the developers, there is no impact to the environment, traffic, water, schools, etc. and the most important thing as stated above is that the city and schools stand to reap a huge windfall in new taxes. So no need to worry and move on.
You can view more SFV Architecture and R.E.
here.
"According to the developers, there is no impact to the environment, traffic, water, schools, etc. and the most important thing as stated above is that the city and schools stand to reap a huge windfall in new
ReplyDeletetaxes. So no need to worry and move on."
Wait, there is no impact to the schools but there's a huge impact for the schools?
Well, there is two different impacts that I should have clarified. On the one hand, the schools have a financial benefit from additional taxes but on the other hand, will this project and other projects being developed at the same time lead to overcrowding, lack of teachers, etc. I dont know the answer but just throwing it out there. Maybe its going to all work out and this is a moot point.
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