Master Planned, Comprehensively Designed Community will feature 1,500
new homes and community infrastructure
SANTA PAULA, Calif.--(BUSINESS WIRE)--Nov. 9, 2017--
Limoneira Company (NASDAQ: LMNR), a leading agribusiness with prime
agricultural land and operations, real estate and water rights in
California announced that its Harvest at Limoneira projectbroke ground with a ribbon cutting ceremony attended by government
officials and community members on Wednesday, November 8th
following a decade of hard work and dedicated planning. Built on
Limoneira Company’s East Area 1 property, the development will span 500
acres.
Harvest at Limoneira won the 2016 American Planning Association Award,
California Chapter, Central Coast Section. The comprehensive development
will host 1,500 new homes and apartments; new school facilities;
community facilities for health care; new commercial spaces; a sports
park; an amphitheater and hiking trails. It is expected to provide
economic stimulus and new jobs for the important 126 corridor from
Ventura to Santa Clarita.
Speakers at the groundbreaking included Limoneira Company CEO Harold
Edwards; Executive Vice President of Marketing, Lewis Group of Companies
Randal Lewis; Ventura County Supervisor Kelly Long; Director of the
Ventura County Health Care Agency Johnson Gill; Ventura County CEO Mike
Powers; and Limoneira Board Chairman Gordon Kimball.
Harold Edwards, Limoneira CEO, said, "Limoneira's Mission involves
community development, and we are proud to continue our legacy of
stewardship within Ventura County and the Santa Paula Community. We
couldn't be more proud of the partnership we have forged with The Lewis
Group, the City of Santa Paula, Parkstone Companies, Meridian
Consultants, Jensen Design & Survey and Sargent Town Planning to create
Harvest at Limoneira, and we are thrilled to be moving forward with the
build out of this exciting project. Harvest at Limoneira involved years
of thoughtful planning, and we expect strong demand for its new homes
thanks to its proximity to the Pacific Ocean, its access to major
highways and the greater L.A. area, as well as the limited supply of new
homes throughout Ventura County."
Harvest at Limoneira is a development partnership between the Limoneira
Company and The Lewis Group of Companies. The Lewis Group and Limoneira
both have significant experience in residential development. The Lewis
Group, based in Upland, California, is a multi-generational company with
a longstanding successful track record in home building and master
planned community development in the Western United States. Founded in
1955, The Lewis Group's focus is on land development, master planned
community development, and income property development, including
commercial centers, industrial properties and apartments. Limoneira has
been involved in community development in the city of Santa Paula, and
Ventura and Santa Maria Counties since its inception in 1893. Randall
Lewis, Executive Vice President of Marketing, Lewis Group of Companies
states, “We’ve all been eagerly anticipating this date and the new
school facilities, new parks and new amenities at Harvest at Limoneira
will enhance Ventura County’s well-deserved reputation for balance and
sustainability. The project will feature homes at a range of price
points while providing a sense of community for its residents, as well
as reaping great benefits for both Santa Paula and Ventura County.”
The project came to fruition as a result of successful SOAR (Save Open
Space and Agricultural Resources) and LAFCO (Local Agency Formation
Commission) votes. The SOAR vote victory represents the first and only
large-scale master-planned community project to obtain the approval of
public voters since Ventura County's SOAR initiative was implemented in
1991, underscoring Limoneira's ability to build consensus within its
local community. Harvest at Limoneira is expected to generate
significant cash flow for the Limoneira Company over the next 7 to 10
years.
About Limoneira Company
Limoneira Company, a 124-year-old international agribusiness
headquartered in Santa Paula, California, has grown to become one of the
premier integrated agribusinesses in the world. Limoneira (pronounced lē
mon΄âra) is a dedicated sustainability company with 11,200 acres of rich
agricultural lands, real estate properties, and water rights
in California, Arizona and Chile. The Company is a leading producer of
lemons, avocados, oranges, specialty citrus and other crops that are
enjoyed throughout the world. For more about Limoneira Company, visit www.limoneira.com.
About The Lewis Group of Companies
The Lewis Group of Companies is one of the nation's largest privately
held real estate development companies. The Lewis Group focuses on
developing mixed-use planned communities and residential subdivisions in
California and Nevada, as well as building and owning rental
communities, shopping centers, and office and industrial parks. The
company has developed more than 57,000 homes, 10,000 apartments and 14
million square feet of retail, office, and industrial space. Since 1955,
the Lewis organization has developed new communities in California,
Nevada, Arizona, and Utah, totaling in excess of 25,000 acres and
housing more than 100,000 families. www.lewisgroupofcompanies.com.
View source version on businesswire.com: http://www.businesswire.com/news/home/20171109005211/en/
Source: Limoneira Company
Media Contact
Limoneira
John Chamberlain, 805-708 0364
or
Investor
Contact
ICR
John Mills, 646-277-1254
