Mission Viejo : City, Developer Fund Intersection Project

Almost $1 million in improvements for a major intersection will be supplied by the Santa Margarita Co. under a joint agreement with the city.

The $2.6-million project involves the installation of traffic lights at Oso and Marguerite parkways and seven other streets along Oso Parkway. Destined to become a major artery between Rancho Santa Margarita and Mission Viejo, much of Oso Parkway is still under construction.

The work will include adding turn lanes and widening the street in some areas of the intersection. City engineers say the project could start by fall of 1992.

Rancho Santa Margarita’s main developer, the Santa Margarita Co. is contributing $962,594 to the intersection improvements. City officials say the funds were required as a condition of approval of the builder’s Las Flores subdivision in Rancho Santa Margarita, a 2,500-unit housing tract.

Part of the funding for the street work may also come from participants in the Foothill Circulation Phasing Plan. The South County project is a joint effort between the county, area developers and cities to improve surface streets around the proposed Foothill tollway.