Tejon Ranch Co. has found a familiar partner to help it develop nearly 500 apartments that would primarily house employees of the company’s industrial and commercial center being built near the junction of Highway 99 and the Interstate 5.
The Lebec-based agribusiness and real estate development company announced this week that it will build the 22-acre project with help from Southern California-based Majestic Realty Co., with which Tejon Ranch is partnering to build in a speculative a large warehouse nearby.
Their new joint venture is significant in at least two ways: It would be the first of four residential projects proposed by Tejon – and by far the smallest – to start when construction begins later this year. Additionally, it is expected to provide much-needed housing for workers in a growing industrial and commercial complex just north of the Grapevine.
“The apartments will bring new energy (to the surrounding Tejon Ranch Mall) by transforming the already thriving employment hub, with over 6 million square feet developed to date, into a mixed-use community where people can live, work and play,” Tejon Ranch Co. said in a press release Monday.
Proposed to rise immediately north of the Tejon outlets, the multi-phase apartment project will consist of one- and two-bedroom rental units that would leverage the area’s existing infrastructure. Facilities are planned to include a clubhouse, trails, fitness facilities, swimming pool and a mixed-use “town square” joining a main street feature. The first apartments are expected to open to tenants by 2024.
Vice Chairman Tom Simmons of Majestic, considered the nation’s largest private industrial property developer, said in the statement that the project will meet TRCC’s need for quality housing to serve a diverse group of employees.
“Employers and the jobs they provide are fundamental, but we know both need local, accessible housing options to truly fuel the economy and help this community thrive for decades to come,” said Simons.
Tejon said in early August that he was looking for a partner to help develop the apartments. At the time, a company spokesperson said the company lacked expertise in multi-family development, but that “there are a lot of good, solid companies” in the state that were at the forefront. task height.
The two companies have also partnered on a 39-acre, 629,274-square-foot distribution center-style project with 136 dock-height doors at TRCC.
In addition to apartments, Tejon Ranch has proposed to build approximately 35,000 residential units on its property near the southern Kern County border. One, called Grapevine, is a master-planned community proposed to include 12,000 homes at the bottom of The Grapevine. Like rental housing, Grapevine is envisioned as housing for future TRCC workers.
Another of the company’s planned residential projects, Mountain Village at Tejon Ranch, would include 3,450 homes, 750 hotel rooms and 160,000 square feet of retail space on the east side of I-5 near Frazier Park. Tejon Ranch’s other project, Centennial, would put 19,333 residential units and 10.1 million square feet of commercial space near Highway 138 and I-5.