"The Growth Management Plan, which resulted in low density and new zoning ordinances, has dramatically changed the tone of La Costa from a standard condominium community to exclusively a single-house community. I think Fieldstone plans to carry out their development plans accordingly."
"Fieldstone, which last year was ranked as Southern California's 12th-largest residential developer in house sales, plans to begin construction on the Carlsbad property in 1990. The firm recorded more than $200 million in house sales last year."
"Originally, prospective developers eyed the property for as many as 9,000 housing units. But, under the Carlsbad Growth Management Plan, which was approved by voters in 1986, the housing density for the property was reduced to about 3,500 units."
Fieldstone Co., a Newport Beach-based house builder, agreed to purchase La Costa Ranch Co. and its 2,800 acres of residential property in Carlsbad for $250 million. The company plans to build approximately 3,500 detached single-family houses on the site. The transaction also includes a partnership between Fieldstone and BCED, a Bell Canada Enterprises subsidiary, to develop 1,200 acres in Scripps Ranch. The purchase was expected to close by September 30, with the partnership arrangement finalized by year-end. The property's density was reduced from 9,000 potential units to 3,500 under Carlsbad's 1986 Growth Management Plan, transforming the area from standard condominiums to exclusively single-family homes. Construction was planned to begin in 1990.
Read at Los Angeles Times
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