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December 6, 2002
SAN SIMEON, Calif. (AP) -- Hearst Corp. has dropped plans to develop a resort on Hearst Ranch and instead will work with an environmental group to largely preserve the 82,000-acre property.
Hearst worked for nearly two years to reach agreement with the Nature Conservancy and the Conservation Fund to develop 257 acres of the sprawling ranch in exchange for leaving the rest of the property undisturbed.
Hearst, which wanted to build a resort at San Simeon Point, said this week it will now work with the American Land Conservancy to preserve the ranch and be compensated for it. The Hearst Castle is already a state park.
Still in discussion is a hotel at Old San Simeon Village, and 27 homes that would be built away from the coast.