Comments Sought on Loral Development : Land use: Newport Beach residents can respond to report on impact of proposed 500-unit project.

Residents have until June 1 to comment on a draft environmental impact report for a 500-unit development to be built on the former Loral Aeroneutronics property.

The 98-acre site is virtually surrounded by the Belcourt luxury home community. The developer will try to reflect the style of Belcourt, said Bill McNair, vice president of Ford Motor Land Development Corp.

Copies of the environmental study are available at the Newport Beach Central Library, 1000 Avocado Ave., and at the Planning Department at City Hall, 3300 Newport Blvd.

Representatives of the developer also are planning a community reception Saturday to “discuss . . . how we plan to move forward, and to hear your thoughts about what we are doing, and any comments or questions you may have about the project,” according to a letter sent to the project’s neighbors.

The reception will be from 11 a.m. to 4 p.m. in the old Loral administration building, 1 Ford Road.

Ford project director Tim Ridner said site cleanup and preparation, including razing the industrial complex, should be finished by the end of the year. Groundbreaking on the Ford tract could come as early as next May.