The manufacturer of aerospace and defense products says Sacramento County is now preparing a final EIS for the County Board of Supervisors hearings on the 1,400-acre project later this year. The project also will need approvals from the U.S. Army Corps of Engineers and the U.S. Department of Interior, Fish and Wildlife Service.
The 1,400-acre project includes 4.2-million sf of commercial and office space and 4,883 units of residential in various densities. Amenities will include 480 acres of open space and parks and a network of biking and walking trails that link to the American River Parkway and the Hazel Light Rail station.
The project is located between Hazel Avenue and Prairie City Road south of Highway 50 in eastern Sacramento County. GenCorp's interim chief executive Scot Neish says it is repositioning its excess land "in anticipation of a real estate market recovery."
The 1,400-acre development will take place under two different names, Glenborough at Easton and Easton Place. Easton Place will surround the Light Rail station at Hazel Avenue, and will be a high-density, mixed-used area featuring residential, employment, retail and entertainment options, as well as civic and public spaces. Easton will be more of a single-family home community.
In addition to Glenborough at Easton and Easton Place, the 6,000-acre plan includes the Rio del Oro and Westborough developments located in the City of Rancho Cordova, and Hillsborough near Folsom, CA. According to SEC filings, the 6,000 acres for which GenCorp is currently seeking entitlements is about half of GenCorp's overall land holdings in the area.
The land was acquired by Aerojet (now owned by GenCorp) in the early 1950s for Aerojet's operations. Most of the Sacramento Land was used to provide safe buffer zones for Aerojet's testing and manufacturing operations. Changes in technology and the relocation of some Aerojet operations freed up the land for redevelopment.
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