The goal is to try to keep the property in Newport, one of Southern California's largest remaining undeveloped swaths of coastal land, as a nature reserve.
A pair of Newport Beach philanthropists has promised $50 million to a group of environmentalists that has long worked to protect Banning Ranch’s 401 acres from development.
“It’s a considerable sum of money,” said conservancy Executive Director Steve Ray. “It’s not enough to buy Banning Ranch in and of itself, but it’s moving us a long way down the road.” “We’re doing everything we can to make that generosity into a reality for Banning Ranch,” Perrone said.
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