On November 6, Toll Brothers, Inc. based in Horsham, PA announced that they have entered into a definitive purchase agreement to acquire Shapell's homebuilding business for approximately $1.6 billion in cash. The Shapell family will retain ownership of its retail and commercial properties.
Shapell is Porter Ranch's largest stakeholder and has been a partner in our community for the past 39 years. The development of Shapell's Porter Ranch Master Plan contains new and continuing projects related to both residential homes and commercial projects. The Porter Ranch Neighborhood Council understands that the future development of our community affects all of our neighbors and stakeholders and we look forward to continuing that partnership with Toll Brothers, pending completion of the acquisition in the first quarter of 2014. PRNC President Paula Cracium has been invited to meet the Toll Brothers team and will bring the council's comments and questions related to how the acquisition specifically affects Porter Ranch. We encourage our stakeholders to share their comments and questions by emailing our council at board [at] prnc.org.
We look forward to sharing further information regarding these developments with the community as we learn them. As always for the latest news and happenings in Porter Ranch visit prnc.org or like us on Facebook at facebook.com/PorterRanchNC
