Castle Ranch Estates - Tripodcameron98.tripod.com › sitebuildercontent › sitebuilderfiles › ...Castle Ranch Estates Indian Springs, CA. 4 Executive Summary: On the doorsteps

Castle Ranch Estates Traquility Base of Los Angeles

Conceptual Photos

Contact: Ramin Zomorodi

GENZ DEVELOPMENT, INC. TEL: 310.666.2524

Castle Ranch Estates

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Table of contents:

Executive Summary ------------------------------------- 4 Project Summary ---------------------------------------- 12 Path of Development ------------------------------------- 13 Economic Projections for 2005-2006 -------------------- 17 Where will the buyers come from ------------------------18

Actual Photos Existing castle structure & lake.


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Executive Summary: On the doorsteps of Los Angeles, and yet a world away, Castle Ranch is poised to offer 250 distinct view estate size homes of 4500+ square feet, on 1? acre lots for far less than comparable homes just minutes away in Valencia and San Fernando Valley. The gate-guarded community will be designed as a resort style community, with a gulf park, recreational lake with a 25’ waterfall, horse & walking trails, equestrian center, small convenience store/coffee shop (currently the rock stable), clubhouse (currently the Castle Structure), and a complete recreation center with tennis, pool, gym, sauna, and racquetball. Castle Ranch is the largest contiguous parcel of land available by single ownership, in the 4 square mile area that streches from Ave I, south to the aqueduct, and from 110th West to 160th West. These open areas are starting to experience a birth in activity and development. This situation creates a unique opportunity for a land developer who can entitle this large property and also control the surrounding open spaces. A assemblage of a large acreage of this size is time consuming, costly, and involves many risks. The property sits on the foothills of the Liebre Mountains, along the California Aqueduct, at elevations ranging from 2,700 to 3,000 feet, with commanding views across the scenic California Poppy Reserve, the spectacularly rugged mountain ranges to the north, Palmdale/Lancaster to the East, and the vast open spaces of the Mojave Desert. The topography of the land is gently rolling hills with much flat terrain. Because of the elevation and the high valley location, the local climate offers four distinctive seasons a year. The spring brings a panorama of wildflowers and bright orange native poppies, and on occasion, during winter, the site is lightly dusted with snow. The ideal climate and the clean air lends itself well to the pristine surroundings that make this place feel like a true getaway from the hustle and bustle of the everyday life in Los Angeles, just 40 miles to the South.


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Castle Ranch is one of the largest contigious parcels of land avaliable through a single ownership in the Western Antelope Valley.


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A majority of the current developable land in Los Angeles County falls in the unincorporated areas (see maps enclosed). More than 50% of land in LA County is in the north county.


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Before & After photos

The area is ideally suited for high-end residential development as illustrated in the superimposed image.

Located approximately at the intersection of Ave J and 140th West in the Antelope Valley, future homeowners will enjoy short scenic commutes to Santa Clarita Valley (25 miles south west) as well as developed parts of Palmdale/Lancaster, 6 miles east. Elizabeth Lake and Lake Hughes, a small community of 3000 people is just 1.5 miles South. In the past 5 years, there have been a number of successful master planned projects developed and sold within a 10-mile radius of the Castle Ranch. New larger projects are popping up all around the area. A list of currently selling projects, in the North Los Angeles County, can be found on the website of “Home Buyer’s Guide Magazine” ( http://www.hbg.com). The next 5 years will dramatically change the landscape of the area. A number of Master Planned developments are currently coming online or will break ground within the next 2-3 years. A partial list of these projects is mapped on “The Path of Development” page of this report. The Castle Ranch Estates can be developed and sold with in this 5-year timeframe. In speaking to the Department of Regional Planning and our expert Civil Engineering consultants, we believe that a land developer can secure a Tentative Map Approval for 250 homes within a 12 to 18 month period. Today Los Angeles County allows developers to start construction immediately after the Tentative Map approval while concurrently filing for a Final Map. This timesavings option tremendously reduces a developer’s holding costs.


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Castle Ranch will be uniquely designed to fit the needs of upper middle class homeowners who desire more for less, and whom enjoy the tranquility and opportunity of living a resort rural style life with a close proximity of an urban environment. The project will incorporate a broad vision of building a new community that fits entirely within its surroundings and provides a balance between housing and its natural environment. The one-acre home sites will be clustered together in groups so as to provide the maximum benefit of the views and to create

wide-open areas for the homeowner’s enjoyment. The home buying market in the Antelope Valley is strong and most new homes are selling at prices between $130-$190 per SF. Meanwhile the area is also experiencing a boom in the move-up home market. The Westside of the Valley has traditionally been the more desirable area for the Luxury Home market. Luxury homes (4,000 – 4800 sq. ft.) on smaller lots (10,000 SF Avg. lot size), are currently selling in the high $700,000-$900,000 range. That is approximately $175 - $195/sq.ft. These communities are within a 6-mile radius of the Castle Ranch. These communities do not offer

any of the amenities, which Castle Ranch shall offer. Another large development, Sierra Pelona, being developed by Suncal, is in escrow to sell their phase1 7000 SF lots, in Blue Top condition, for $150,000 per paper lot. This project is equal drive time to Los Angeles. The Castle Ranch developer can offer the 1-acre lots for the same price as the Sierra Pelona’s 7000 SF lots. On this basis, the total sales price of the 250-lot Castle Project shall be $37,500,000.



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BEFORE AFTER

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Existing conceptual plan filed with DRP in 1994


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Project Summary The Land consists of 8 contagious parcels, with the following Los Angeles County Parcel Numbers:

APN Approx. Acreage

3235-002-023 153 3267-001-001 40 3267-001-002 40 3267-001-003 40 3267-001-004 40 3267-001-005 80 3267-001-007 44 3267-001-009 72

Zoning:

Currently the Property has split agricultural zones of, A-1-5 & A-2-2.5 and a General Zone of N-1, which indicates 1 dwelling per 2 acres.

Current Utilities:

The Property and the Castle residence has the following utilities:

??Water: Water for the Castle structure is provided through a natural spring that flows into a 100,000 Gal. in-ground water tank and then gravity flows to the Castle. There are two natural springs and two wells on the property.

?? Sewer: Septic. ?? Electricity: LA County Edison. ?? Telephone: Verizon ?? Gas: Trucked Propane ?? TV: Antenna and Satellite dish ?? Fiber Optic cables are on the property

The proposed utilities for the development project are as follows:

??Water: Water for the development will be supplied through a mutual water company which is currently being planed to service the area’s large tracts of land. (There will be no upfront cost to developer)

?? Sewer: A sewer treatment facility is currently being planed to service the area’s large tracts of land. (No upfront cost to developer)

?? Electricity: LA County Edison. (Currently in the property) ?? Gas: Off-grid centralized propane system. (Turnkey with no upfront cost

to developer)


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?? Telephone/Internet/TV: Verizon has existing fiber optics network and telephone lines to the site.

?? Other TV options: Antenna and Satellite dish.

Path of Development Currently Los Angeles County is facing an annual housing deficit of 28,000. Regardless of future developments, by 2020 this deficit is projected to increase to 48,000 units per year. Castle Ranch’s 20-mile radius map shows only a partial list of developments, which are either in the planning stage or being built at this time.

900

430 420


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Partial list of large local development projects planned to break ground in the next 5 years and their proximity to Castle Ranch (See map on previous page):

?? Ritter Ranch: Being developed by SunCal. This project is breaking ground and will include 7,200 homes, championship golf course, schools, parks, and commercial areas. Just 7 miles east of the Castle Ranch property and equal commute drive time to Los Angeles. SunCal is offering 7000 SF lots at Blue Top condition for $150,000 per paper lot.

?? 420 Homes at 90th West and Ave. I. Forcast Homes is currently completing

construction of houses in this tract. This project is 4 miles east of the Castle Ranch.

?? Del Sur Ranch: Master Plan community by Standard Pacific designed for

1,900+ homes just 3 miles north east of the property at Ave H and 100 St West. The project will have a commercial center and several schools. The developer has broken ground on the project.

?? Pacific Land Corporation is planning a large Master Planned Community of

approx 3,500 homes south of Ave K along the California Aqueduct, and between 80th and 100th west. The development is 4 miles east of The Castle Ranch. This project will include schools, commercial centers and parks. The planning board has finalized the first phase of this project.

?? Elizabeth lake: 1.5 Miles south of the project. A local Developer has final plan

approval for 430 high-end homes. A 15-acre commercial center is also in the planning stages.

?? Tejon Ranch’s Centennial Project. 23,000-Home Master Plan Community

approximately 25 miles west of the Castle Ranch. The much-anticipated small city sized project is in the final planning stages, and should break ground before the decade.

?? Anaverde: 5200 Homes in Palmdale, 13 miles east of the Castle Ranch. The

first phase of Anaverde is sold out. Other phases are under development.

?? Newhaul Ranch. 30 Miles south west of the Castle Ranch. This is the western expansion project of Valencia. At build out this project will accommodate 60,000 inhabitants.


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Local Projects


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Economic Projections for 2007 - 2008 According to the new Economic Outlook by Los Angeles County Economic Development Corporation, LAEDC:

“Construction in Los Angeles County inched up in 2006, a mere 2.7% growth; with more than 61% of the units permitted being multi-family (condos and apartments). This reflects the lack of land available for new housing development in Los Angeles County except in the Antelope and Santa Clarita valleys.”

According to a recent research publication produced by Southern California Agency for Governments, SCAG, Inland Empire and North Los Angeles County will remain the Housing Rich Areas of Southern California. This means that more and more people will migrate to these areas in the next 20 years to find more affordable homes in all market types. However this report also indicates that:

?? “An analysis of land development needs for accommodating forecast housing shows that there is an insufficient amount of raw, developable land in Orange and Los Angeles counties.”

The 512-acre Castle Ranch property is expected to appreciate in value, as developable land becomes more scares, and demand for single family housing increases.


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Where will the buyers come from The Castle Ranch property is uniquely situated to draw the move up, and executive buyers from the Palmdale/Lancaster areas as well as Valencia, Castaic, and parts of the San Fernando Valley. The property is just a short drive away to most Los Angeles County’s major commercial areas.

We anticipate that the 250 Estate size homes would have the following breakdown of buyers:

?? 40% from Valencia/Newhall areas ?? 35% from Palmdale, Lancaster, and the Antelope Valley ?? 20% from San Fernando Valley & other parts of Los Angeles ?? 5% from Victorville & Hesperia The economies of Valencia, Castaic, Palmdale, and Lancaster are flourishing and the executive incomes are increasing. Buyers at the Castle Ranch can enjoy a resort lifestyle at prices far below comparable properties.


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SELLER’S TERMS & PRICE: Based on internal studies and market conditions, we believe this is a great opportunity for a land developer who can entitle the property and sell the paper lots to builders. If you are interested to discuss the price and terms, please contact Ramin Zomorodi at 310.446.1929.

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