LOS ANGELES, Dec. 11, 2008 (GLOBE NEWSWIRE) -- Las Lomas Land Company, LLC announces that Dan. S. Palmer has resigned as President and Alan Joelson, the Chairman has now also assumed the role of President.
Palmer of Las Lomas, LLC has resigned as Manager and Southbrook/Calgrove, LLC the majority owner (wholly owned by Alan Joelson and his family interests) has become Manager.
Alan Joelson said, "We are very grateful for all the work and effort put in by Dan into this Project of which he is the originator and we wish him every success for the future. We sincerely regret that he has resigned for personal reasons at this stage."
Las Lomas plans are for the region's first smart growth community and the northern gateway to the San Fernando Valley and an antidote to urban sprawl, with jobs, schools, parks, museums, shops, restaurants and community activities all within walking distance of each other, reducing the need for car trips to the rest of the Valley and region.
The benefits for the region are considerable. The Las Lomas project will create 9,000 direct jobs, 22,000 indirect jobs, over 1,300 construction jobs and over $1.3 billion in annual wages. The smart growth community will add $22 million per year in City General Fund revenue and will have a $1.5 billion project labor agreement.