George Lucas to Build Low Income Housing

After plans to build a state of the art production studio fell through, filmmaker George Lucas has come up with an alternate plan for his Grady Ranch property. Lucas’ new plan for the sprawling estate is to build low income housing on it. Lucas plans to sell the property to the Marin Community Foundation, a non-profit that has already funded more than 2,500 units of affordable housing, and will explore options for developing Grady Ranch.

Initially Lucas had applied to for permits to build a 260,000 square-foot compound that would be used as a digital media production studio which was estimated to create 600 high-paying jobs. Lucas’ neighbors fought the plan arguing that traffic, noise, and a lit outdoor stage were legitimate concerns.

Is the new plan a way for Lucas to get back at his opposition? Tom Peter, CEO of the Marin County Foundation doesn’t feel it is stating that he is convinced Lucas’ plans for low income housing were not created out of spite. Lucas has been a wonderful neighbor and asset to the community by not only creating hundreds of jobs, but also preserving 5,000 acres of woodlands, a hiking trail, and a pond.

It’s unknown how the community will react to the plans for low income housing on the Grady Ranch property, however those close to the project feel there will be both support and opposition.

Read the full article at News Genius

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About Harry Campbell

Harry Campbell is an experienced real estate investor and personal finance blogger. During the day he works as an aerospace engineer but his real passion is blogging and writing about all things related to finance and real estate.

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