Court Issues Opinion on Centennial at Tejon Ranch
Tejon Ranch Co. (NYSE:TRC) responded to a California Court of Appeals decision regarding their Centennial development project. The court upheld a previous Los Angeles County Superior Court ruling, where Tejon prevailed on 20 out of 23 items. Despite disagreeing with the ruling, the Company plans to collaborate with Los Angeles County to advance the Centennial project.
The Centennial development is positioned as a climate-forward and resilient master planned community designed to address Los Angeles County's critical needs for housing, employment, and open space preservation. Tejon Ranch emphasizes their extensive experience in California's land use processes and maintains confidence in moving the project forward.
Tejon Ranch Co. (NYSE:TRC) ha risposto a una decisione della Corte d'Appello della California riguardante il loro progetto di sviluppo Centennial. La corte ha confermato una precedente sentenza della Corte Superiore della Contea di Los Angeles, in cui Tejon ha avuto ragione su 20 punti su 23. Nonostante non condivida la decisione, la Società intende collaborare con la Contea di Los Angeles per portare avanti il progetto Centennial.
Il progetto Centennial è concepito come una comunità pianificata resilient e attenta al clima, studiata per rispondere alle esigenze fondamentali della Contea di Los Angeles in termini di abitazioni, occupazione e conservazione degli spazi aperti. Tejon Ranch sottolinea la propria vasta esperienza nei processi di uso del territorio in California e resta fiduciosa nel proseguire con il progetto.
Tejon Ranch Co. (NYSE:TRC) respondió a una decisión de la Corte de Apelaciones de California relacionada con su proyecto de desarrollo Centennial. La corte confirmó un fallo previo del Tribunal Superior del Condado de Los Ángeles, en el que Tejon ganó en 20 de 23 puntos. A pesar de no estar de acuerdo con la resolución, la Compañía planea colaborar con el Condado de Los Ángeles para avanzar en el proyecto Centennial.
El desarrollo Centennial se presenta como una comunidad maestra planificada, resiliente y enfocada en el clima, diseñada para atender las necesidades críticas del Condado de Los Ángeles en vivienda, empleo y preservación de espacios abiertos. Tejon Ranch destaca su amplia experiencia en los procesos de uso de suelo en California y mantiene la confianza en seguir adelante con el proyecto.
Tejon Ranch Co. (NYSE:TRC)는 캘리포니아 항소법원의 Centennial 개발 프로젝트 관련 판결에 대해 입장을 밝혔습니다. 법원은 로스앤젤레스 카운티 고등법원의 이전 판결을 지지했으며, Tejon은 23개 항목 중 20개에서 승소했습니다. 판결에 동의하지는 않지만, 회사는 로스앤젤레스 카운티와 협력하여 Centennial 프로젝트를 추진할 계획입니다.
Centennial 개발 프로젝트는 로스앤젤레스 카운티의 주택, 고용, 개방 공간 보존이라는 중요한 요구를 해결하기 위해 설계된 기후 친화적이고 회복력 있는 마스터 플랜 커뮤니티로 자리매김하고 있습니다. Tejon Ranch는 캘리포니아 토지 이용 절차에 대한 풍부한 경험을 강조하며 프로젝트 추진에 대한 확신을 유지하고 있습니다.
Tejon Ranch Co. (NYSE:TRC) a réagi à une décision de la Cour d'appel de Californie concernant leur projet de développement Centennial. La cour a confirmé un jugement antérieur de la Cour supérieure du comté de Los Angeles, où Tejon a obtenu gain de cause sur 20 points sur 23. Bien que la société ne soit pas d'accord avec la décision, elle prévoit de collaborer avec le comté de Los Angeles pour faire avancer le projet Centennial.
Le développement Centennial est présenté comme une communauté planifiée résiliente et axée sur le climat, conçue pour répondre aux besoins cruciaux du comté de Los Angeles en matière de logement, d'emploi et de préservation des espaces ouverts. Tejon Ranch souligne sa vaste expérience dans les processus d'utilisation des terres en Californie et reste confiant dans la poursuite du projet.
Tejon Ranch Co. (NYSE:TRC) reagierte auf eine Entscheidung des Berufungsgerichts von Kalifornien bezüglich ihres Centennial-Entwicklungsprojekts. Das Gericht bestätigte eine frühere Entscheidung des Superior Court des Los Angeles County, bei der Tejon in 20 von 23 Punkten Recht bekam. Obwohl das Unternehmen mit dem Urteil nicht einverstanden ist, plant es, mit dem Los Angeles County zusammenzuarbeiten, um das Centennial-Projekt voranzutreiben.
Das Centennial-Entwicklungsprojekt wird als klimafreundliche und resiliente Masterplan-Gemeinschaft positioniert, die darauf ausgelegt ist, die dringenden Bedürfnisse des Los Angeles County in den Bereichen Wohnen, Beschäftigung und Erhaltung von Freiflächen zu erfüllen. Tejon Ranch hebt seine umfangreiche Erfahrung im kalifornischen Flächennutzungsprozess hervor und ist zuversichtlich, das Projekt weiter voranzubringen.
- None.
- Court of Appeals upheld previous ruling against certain aspects of the development
- Project faces legal and regulatory challenges that may delay implementation
- Additional work required with Los Angeles County to advance the project
Ruling provides clarity on the future of master planned Los Angeles County community
TEJON RANCH, Calif., June 26, 2025 (GLOBE NEWSWIRE) -- Tejon Ranch Co. (NYSE:TRC), (“Tejon” or the “Company”), a diversified real estate development and agribusiness company, today released the following statement in response to the California Court of Appeals’ decision to uphold the Los Angeles County Superior Court’s previous decision regarding the Company’s Centennial development.
We disagree with the Court of Appeals’ ruling and importantly note that the decision affirms that the Company prevailed on 20 of the 23 items resolved at the trial court. Furthermore, the ruling does not address any additional issues. In the coming days, we intend to work with Los Angeles County to evaluate how best to advance Centennial in a way that benefits the region and delivers value for our shareholders.
Centennial remains one of the most extensively studied, climate-forward and resilient master planned communities ever proposed in the state. It will bring much needed housing, jobs and open space preservation to a County that urgently needs all three.
Tejon Ranch has a decades-long track record of navigating California’s complex land use process. We are confident in our ability to move Centennial forward, generate value for our shareholders, and deliver housing, jobs, open space and above all, opportunity for the region.
About Tejon Ranch Co. (NYSE: TRC)
Tejon Ranch Co. is a diversified real estate development and agribusiness Company whose principal asset is its 270,000-acre land holding located approximately 60 miles north of Los Angeles and 30 miles south of Bakersfield. For more information on the Company, please go to www.tejonranch.com.
About Centennial at Tejon Ranch
Centennial at Tejon Ranch is a future master-planned, mixed-use community located on approximately 12,000 acres of Tejon Ranch in northern Los Angeles County. Designed to be one of the most sustainably planned communities in California’s history, Centennial will deliver up to 19,333 homes, including more than 3,000 affordable units. Centennial builds on Tejon Ranch Company’s legacy of environmental stewardship, pairing large-scale conservation with forward-thinking, climate-resilient design
Forward Looking Statements
This communication contains forward-looking statements about future events and circumstances. Generally speaking, any statement not based upon historical fact is a forward-looking statement. In particular, statements regarding Tejon’s plans, strategies, prospects and expectations regarding its business and industry are forward-looking statements. They reflect Tejon’s expectations, are not guarantees of performance and speak only as of the date hereof. Except as required by law, Tejon does not undertake to update such forward-looking statements. You should not rely unduly on forward-looking statements. Tejon’s business results are subject to a variety of risks, including business conditions and the general economy, future commodity prices and yields, market forces, the ability to obtain various governmental entitlements and permits, interest rates and other risks inherent in real estate and agriculture businesses. For further information on factors that could affect Tejon’s business results, refer to Tejon’s Annual Report on Form 10-K for the fiscal year ended December 31, 2024 and subsequent filings with the U.S. Securities and Exchange Commission.
Contacts:
Nicholas Ortiz
Tejon Ranch Co., Senior Vice President, Corporate Communications & Public Affairs
(661) 331-0313
nortiz@tejonranch.com
FAQ
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