Limoneira Explores Providing Housing on the Limco Del Mar Ranch to Address Ventura County's Housing Needs

SANTA PAULA, Calif.--(BUSINESS WIRE)--Limoneira Company (the “Company” or “Limoneira”) (Nasdaq: LMNR), a diversified citrus company with related agribusiness activities and real estate development operations today announced its plan to explore the development of its Limco Del Mar Ranch into much-needed housing for Ventura County.​

This initiative underscores Limoneira's commitment to addressing the critical housing affordability and supply crisis in the region in a manner consistent with its legacy relationship with the surrounding community.

“As a historically local company, Limoneira is dedicated to helping solve Ventura County's housing shortage,” said Harold Edwards, Limoneira President/CEO. “We believe that a strong community needs homes for everyone and we're ready to do our part.”

The plan to explore a development aligns with the urgent need for more housing in Ventura County, which has experienced a significant decline in housing production. Limoneira believes that infill development, such as the Limco Del Mar project, offers the perfect opportunity for efficient, balanced and well-planned development that will stimulate economic growth, create jobs, and contribute to vibrant livable communities.

Edwards continued, “We plan to commence our exploration of developing new housing in a collaborative manner immediately by working with the City of Ventura and its residents, as well as the County of Ventura and other community partners. Our goal is to proudly create a pathway to design, permit and build much needed new homes that will meet the needs of Ventura County’s residents.”

The Limco Del Mar Ranch, a 221-acre agricultural infill property bordered by developed areas of the City of Ventura, is ideally suited for the development of additional housing to meet the needs of the community. Limoneira is committed to conducting a community-based planning process, a complete CEQA (California Environmental Quality Act) review, review of the project by the City of Ventura City Council, a SOAR (Save Open-space and Agricultural Resources) vote to consider adding the property to the City, and the LAFCO (Local Agency Formation Commission) review process for annexation to the City of Ventura.

About Limoneira Company

Limoneira Company, a 132-year-old international agribusiness headquartered in Santa Paula, California, has grown to become one of the premier integrated agribusinesses in the world. Limoneira (lē moñ âra) is a dedicated sustainability company with 10,500 acres of rich agricultural lands, real estate properties, and water rights in California, Arizona, Chile and Argentina. The Company is a leading producer of lemons, avocados and other crops that are enjoyed throughout the world. For more about Limoneira Company, visit www.limoneira.com.