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REAL ESTATE

J. Ray Construction in Irvine will finish building the first public school in Rancho Santa Margarita early next year.

The school, an elementary campus to be called Trabuco Mesa, will be composed of eight California mission-style buildings and cost $4.5 million. It is expected to open with an enrollment of 700.

Rancho Santa Margarita is being developed by the Santa Margarita Co.

--Compiled by Michael Flagg, Times staff writer

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