he Rancho Bungalows site was purchased in November 2009 from the owner of elementary school built in the late '80s. Oxbow is currently working with the City of Rancho Santa Margarita to rezone the site for residential use as the development is being planned to fulfill the recently adopted General Plan Housing Element.  Oxbow is also working closely with SAMLARC, the master planned community association for the City, with regard to its application to become annexed into the association.