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Tuesday, Nov 28, 2023

Large Apartment Complex Planned for Tejon Ranch

Tejon Ranch Co. has formed a joint venture partnership with industrial developer Majestic Realty Co. to create nearly 500 apartment units.

The community will be developed on the east side of the Tejon Ranch Commerce Center, adjacent to the Outlets at Tejon on the northern fringes of the Los Angeles area. The endeavor is expected to generate synergy with the Outlets and throughout the commerce center, which houses large distribution facilities as well as retail and other types of properties.

The project will consist of up to 495 studio, 1-bedroom and 2-bedroom apartments to be developed in multiple phases, with amenities to include a mixed-use town square with a main street feature, clubhouse, fitness facilities and pool, and paseos to provide walkable connectivity throughout.

Construction is targeted to begin later this year, with the delivery of the first units late next year.

“We are excited to develop this much-needed housing community for the large and growing workforce at TRCC, providing an opportunity for employees of the various businesses at TRCC to enjoy a quality living environment near their work, reduce their transportation costs, commute times and vehicle miles traveled, all while enhancing their work-life balance,” Hugh F. McMahon, Tejon Ranch Co.’s executive vice president of Real Estate, said in a statement. “We are very pleased to again partner with Majestic Realty Co. and expand upon our outstanding record of success together.”

“Our shared vision and confidence in working with our partners at Tejon Ranch has and continues to be demonstrated as we take these next steps in creating the full scope and function of this development,” added Majestic Realty Vice President Tom Simmons. “The housing component has always been a part of the long-term vision for TRCC, given the need and opportunity to provide quality housing access to a diverse range of employees who work there. Employers, and the jobs they provide, are fundamental, but we know that both need housing options that are local and accessible to truly fuel the economy and help this community thrive in the decades ahead.”

The project will utilize existing infrastructure serving the commerce center. According to the developers, it will address the immediate need for quality housing for those employed there, and it will serve to create opportunities for other development at the center.

The commerce center is located at Interstate 5 and Highway 99, approximately 40 minutes north of Santa Clarita, not far beyond Grapevine. The 1,450-acre industrial and commercial complex is already home to major distribution centers for Camping World, Caterpillar, Dollar General, Famous Footwear, IKEA and L’Oréal USA’s professional salon distribution company, SalonCentric. It will also be the location of a sustainable automated manufacturing facility for Plant Prefab, a custom builder of multifamily and single-family housing.

Majestic Realty, based in City of Industry and headed by Ed Roski Jr., is the largest, privately held developer and owner of master-planned business parks. It also owns retail, sports and hospitality properties, among others.

Tejon and Majestic have partnered before on projects at the commerce center. In 2017, Tejon and Majestic built an industrial building that was subsequently leased to Dollar General and L’Oréal USA. In 2019, Tejon Ranch and Majestic partnered on another 580,000-square-foot industrial facility.

Lebec-based Tejon Ranch continues to experience stalling on its Centennial master-planned community plan to bring 19,333 houses to northwestern Los Angeles County as it navigates through litigation brought on by several environmental groups who claim Centennial will bring wildfire risk and excessive greenhouse gas emissions.

Tejon Ranch recently reached an agreement with one of the nonprofits, Climate Resolve, to install 30,000 electric-vehicle chargers at residences and commercial businesses at Centennial as well as include incentives toward the purchase of 10,500 electric vehicles, school buses and trucks.

Michael Aushenker
Michael Aushenker
A graduate of Cornell University, Michael covers commercial real estate for the San Fernando Valley Business Journal. Prior to the Business Journal, Michael covered the community and entertainment beats as a staff writer for various newspapers, including the Jewish Journal of Greater Los Angeles, The Palisadian-Post, The Argonaut and Acorn Newspapers. He has also freelanced for the Santa Barbara Independent, VC Reporter, Malibu Times and Los Feliz Ledger.

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