Word: lande
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Dates: during 1970-1979
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Later, when tedium set in, Gaddafi managed to arouse the assembly by signaling to Premier Abdul Salam Jalloud. who announced that any Libyan wanting to build a house would receive free land, along with a guaranteed bank loan for construction. The crowd came alive with cheers...
...control an enterprise that aims at making a profit-and Irvine Co. not only tries to turn a profit but clears a rather tidy one. Mobil Oil Corp. offered $200 million in May, setting off a frantic bidding war. Since then, counteroffers have come from Cadillac Fairview, a Canadian land developer, and SMBH & Z, a Detroit investment firm. Mobil has made a second bid, and the price has been pushed up toward $300 million. Last week the foundation and a California court that must approve any sale began evaluating final bids...
...lakes. Shopping centers and parks, all landscaped by Irvine, are less than ten minutes away. It is an idyllic work-live-play environment, carved out of beanfields and cow pastures south of Los Angeles. Irvine has built on only 10,000 acres, and plans to continue developing its land over the next 25 years with nearly $10 billion worth of houses and commercial and industrial complexes. When the expansion is completed, the ranch will have 400,000 residents and be the country's largest master-planned urban setting. Says an executive of one company that has been bidding...
...take the attitude that even though we own the land, in reality we are only guardians of it," says President Raymond Watson. "When people advise us how they would like to see it developed, we listen." That philosophy has enabled Irvine to gain the support of California ecology groups for its projects. Next, three miles of choice coastline will be developed along the southern edge of the ranch. If California's coastal commission approves, 80% of the property, including hilltops overlooking the ocean, will be left untouched. On the remaining 2,000 acres, Irvine will erect a resort, three...
Sudden Speedup. Irvine's management is "the best in the business," says U.C.L.A. Professor Fred Case, a land-development expert. Mobil and Cadillac Fairview have added their praise. Still, Watson, a 50-year-old former San Francisco architect who joined Irvine as planning manager in 1960, admits that he feels "apprehensive" about the impending takeover. One danger is that a new owner may order a sudden speedup in Irvine's growth in order to increase its profits; that could expose the company to the same boom-and-bust cycle that bedevils other developers...