Tejon Ranch Co. announced it is taking the next step in its evolution as a real estate development company by moving forward with the development of residential communities on the Ranch, providing much-needed new housing for the region. The Company will begin construction to start the new year on Terra Vista at Tejon, a new multi-family apartment community located immediately adjacent to the Outlets at Tejon in the Company?s Tejon Ranch Commerce Center (TRCC).

Terra Vista at Tejon is the Company?s first residential development and will complete the well-rounded progression of the Company to a fully integrated real estate development organization. This development will also begin TRCC?s transition to a mixed-use master-planned community. TRCC already includes a large employment base of industrial and retail users totaling over 8.2 million square feet of existing development, under construction or near construction, with an additional 11.1 million square feet of entitled space to be developed in the future.

The 228-unit first phase of the Terra Vista at Tejon apartment community, which will ultimately have up to 495 units, consists of studio, one, and two-bedroom apartment homes. The new community will be a convenient housing option for the thousands of employees working within TRCC and the surrounding area, as well as residents in south Bakersfield, the southern portion of Kern County, and the adjacent Mountain Communities. Construction will begin in late January 2024, with the first units becoming available in the first half of 2025 and the remaining units in this first phase coming online soon thereafter.