GenCorp’s Mixed-Use Project Takes Next Big Steps

Sacramento County’s supervisory board has unanimously approved the final environmental impact report for GenCorp Inc.’s 1,400-acre mixed-use project and amendments to the county’s general plan for the project. The board of supervisors has also unanimously voted in favor for an intent motion to approve the balance of the development’s requested zoning amendments and map conditions, which are expected to be ratified at the board’s Jan. 28, 2009 meeting, according to GenCorp. Located between Hazel Ave. and Prairie City Rd. south of Highway 50 in eastern Sacramento County, Glenborough at Easton and Easton Place consists of plans for 4,883 residential units and 4.2 million square feet of commercial and office space. Additional elements of the project include more than 480 acres of open space and parks and biking and walking trails that will link the development to the American River Parkway and Hazel Light Rail station. “In 2004, GenCorp and the County initiated a collaborative planning process that represents a new model in land use planning in Sacramento County,” David Hatch, vice president of GenCorp Realty Investments L.L.C., said in a statement. As previously reported by CPN, the project was granted approval at the Sacramento County Policy Planning Commission’s July 8 meeting. Glenborough at Easton and Easton Place is a component of GenCorp’s broader roughly 6,000-acre Easton master plan. Among the other developments in the master plan are Rio del Oro and Westborough in Rancho Cordova, Calif., and the Folsom’s Sphere of Influence, also in California. GenCorp is a technology-based manufacturer of aerospace and defense products and systems. The company also has a real estate segment that encompasses activities related to the entitlement, sale and leasing of its excess real estate assets.