SAN JOAQUIN VALLEY-A Walnut Creek developer plans to submit a land-use proposal to the city of Lathrop next month to build a $3-billion corporate community on 4,800 acres in the San Joaquin Valley. Cambay Group Ltd. says it plans to build a model for future development in the Central Valley as high-tech companies move from the Bay Area in the slowing economy.

The project, named “Calfia” after a mythical California queen, consists of building 10,500 houses and a center of business parks and amenities, including a series of corporate centers that would stretch out over 6 million sf.

Cambay first had an option on the San Joaquin Valley property more than 10 years ago. After playing around with an idea to build a theme park called Gold Rush city, the firm decided instead to develop a community center that would take advantage of the high-tech industry’s demise by offering companies a more economic solution to leasing corporate offices, while providing a large residential community.

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