Wednesday, December 24, 2008

Housing Project Links to Parkway

A new 1,400 acre community being developed by GenCorp has received environmental approval from Sacramento County, and included are plans to connect to the Parkway through biking and walking trails; very good news for Rancho Cordova and the Parkway.

An excerpt from the News Release.

“Sacramento County Board of Supervisors unanimously certifies the Final Environmental Impact Report and approves General Plan Amendments.

“SACRAMENTO, Calif., Dec. 22 /PRNewswire-FirstCall/ -- GenCorp Inc. (NYSE: GY) announced today that the Sacramento County Board of Supervisors has unanimously approved the Final Environmental Impact Report and amendments to Sacramento County's General Plan for the Glenborough at Easton and Easton Place project. The actions occurred at the Board of Supervisors' December 10 and December 17, 2008 meetings. Located on approximately 1,400 acres in eastern Sacramento County, the project is located between Hazel Avenue and Prairie City Road south of Highway 50.

"We are pleased to have achieved these strategic real estate milestones," said Scott Neish, interim president and chief executive officer of GenCorp. "Our real estate team has done a great job moving the project through a complex regulatory process."

“The Board of Supervisors also unanimously voted for an intent motion to approve the balance of the project's requested zoning amendments and map conditions, which are expected to be ratified at the Board's January 28, 2009 meeting.

"In 2004, GenCorp and the County initiated a collaborative planning process that represents a new model in land use planning in Sacramento County," said David C. Hatch, vice president, GenCorp Realty Investments, LLC. "We are very proud of this achievement. The Board of Supervisors' unanimous votes are a testament to the quality of the project and the success of the process."

“Grounded in principles for smart growth and sustainability, the project's land use plan includes 4,883 units in a wide range of residential densities and 4.2 million feet of commercial and office space. The project also includes more than 480 acres of open space and parks, and an extensive network of biking and walking trails that link it to the American River Parkway and the Hazel Light Rail station.”