Panel Approves 3,623 Units by Castaic Lake : Growth: In a close vote, planners OK NorthLake project. Supervisors have final say on the development agreement.

After listening to more than an hour of testimony about the harmful impact the recession has had on the development business, the Los Angeles County Regional Planning Commission narrowly agreed Monday to allow 3,623 housing units to be built near Castaic Lake.

The approval of a development agreement for NorthLake--which will lock the county into that number of units if the Board of Supervisors agrees--was made without the benefit of many of the specifics usually required, such as tract maps and earth grading plans.

But representatives of the development firm, Sycamore Investment Co., succeeded in persuading three of the five commissioners that the company cannot make any further investment in the property without a loan, and that the company cannot obtain a loan without a development agreement with the county.

“Lenders just are not lending on raw land anymore, with the expectation that they’ll have the right to develop it in the near future,” said investment broker Patrick Dempsey, speaking on behalf of Sycamore.

One of two dissenting commissioners, Richard C. Wulliger, said he believed it was premature to make the agreement without knowing more details of the project.

“It may very well turn out to be the Jerusalem that was described here today,” Wulliger said. “But are we putting the cart before the horse?”

Several supporters of the project spoke before the commission and no one spoke against it, which seemed to sway several of the commissioners to vote in favor of the agreement.

In particular, Sycamore was praised for its commitment to improve the Castaic area by providing land for two schools, two public parks, a library and a fire station. The company also has agreed to make numerous road improvements as well as build a public pool, public golf course and trails for bicycles and horses.

“We support this beautiful, balanced project,” said longtime Castaic resident Samuel Arazhderian Jr., who said he was speaking on behalf of the Castaic Community Town Council.

Commissioner Rene G. Santiago, however, said many of the community improvements will be needed just to support the population of NorthLake.

“A lot of these things are mitigating impacts of the development project itself,” he said.

If the Board of Supervisors approves the agreement, Sycamore spokesman Dirk A. Gosda said he hopes to return to the commission within a few months with applications for permits to build the first phase. The company hopes to begin construction on that phase, which would include 880 housing units and the golf course, in early 1994, Gosda said.

NorthLake is planned for a 1,330-acre canyon east of the Golden State Freeway and northwest of Castaic Lake. It would include 2,337 single-family houses--ranging from standard suburban houses to large estates--and 1,286 multifamily units, including condominiums and townhouses.

Also planned are 63 acres of commercial and industrial zones.