A Simi condo project is halted

News item: The Ventura County Star reports a large condo project in Simi Valley has stopped in mid-development: "Citing slumping market conditions, a developer has abruptly halted construction of a 66-unit condominium development near what is known as Happy Face Hill in Simi Valley, city officials said Tuesday."

More: "After several months of grading work, Encino-based Larwin Co. told City Manager Mike Sedell in an e-mail that construction of the housing development on 10 acres near Kuehner Drive would be stopped for at least six months."

The reader who emailed us to alert us to this story noticed another condo development in Thousand Oaks that appears to have been halted in its tracks, and wonders how widespread this trend is. Thoughts? Comments? Insights? Email story tips to lalandblog@yahoo.com.

Hat tip: FD in TO

Comments

[Willie]

We are going to go back to the Old Wild West days with ghost towns and dust storms. Did I mention the tumbleweeds? What a mess!

[adoptive father]

From the Larwin Co website. Might explain why they stopped development. Running out of cash and credit market locked up.

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[Anonymous]

It seems like this project at Wilshire & Barrington in West LA may have been put on hold for the time being.

http://www.californialandmark.com/wilshire_barrington.html

[Cal]

They removed some great oaks just so they could have the privilege of moving some dirt around and going bankrupt.

For fans of The Biggest Loser, where is construction was taking place is the entrance of the ranch they used to use for the last few seasons (not the current one). It is for sale for a mere 75 million.

http://www.simivalleyequestrianranch.com/mls/

[mark]

that construction of the housing development on 10 acres near Kuehner Drive would be stopped for at least six months."

6 months?is that when the real estate market comes back?hahaha!
Looks like they have a lot of useless desert property to unload.Good luck to them.Palmdale/lancaster property is impossible to unload now-its a depression there.

[Kathy]

I know of a Westside developer who purchased an apartment building in late '05, evicted the tenants this summer, and now has halted plans to tear it down and build condos. This is in very nice WLA territory; borders Westwood/Brentwood. And because it was a rent-controlled building, after evicting the tenants, they can't rent it out.

[Bots]

Where is the halted condo development in Thousand Oaks? Curious if its the one on Hillcrest Drive.

[yours truly, johnny dollar]

Now, all the developers will be suing all their venders/sub-contractors who stopped delivery/work due to non-payment claiming...well, you get the idea.
Blame everyone; sue everyone. It's their fault.

[TakeFive]

There is a condo development near me that appears to have halted construciton. It is built within 20 feet of the sound wall next to the 10 freeway. Sign advertises luxury condos, 2600 sq ft, from the high $600's.

No tresspassing signs have gone up and the only worker onsite is a security guard (and a budget priced guard at that).

Maybe we could have a blog entry where readers send in pics of abandoned developments...

[Fran Dibble]

Bots--The project in TO that I was referring to is on Tuolumne Ave between Gainsborough and McCloud. It is called the Shadow Lake Racquet Club Villas. Lest I be accused of floating false rumors in a real estate market that doesn't need such things, I simply have observed that no activity has taken place there in a while. The grading seems done and there are a couple of Andy Gumps but no sign of workers or construction equipment. I went to the web site on the sign and it was "under construction." I called the phone # (866 74 villa) and got a recording describing about 9 projects this company is engaged in and which invites the caller to press a given button for info on each one. I pressed 9 for this one and was given a brief description of the condos and told they would be ready the first of the year--they didn't say which year but it definitely won't be '08! There was no way to access a real person. Let's hope my observations don't mean what it looks like.
FD in TO

[Bots]

Fran,

I haven't driven through there in a while. I'll have to check it out. Appreciate the info.

[this doesn't look like the Coachella Valley to me]

Developers' projects gather dust and spider webs; in Palm Springs, developers are required to erect block walls around the projects before construction begins; thus, when the projects are abandoned, passer-bys
see the block walls--not the remnants of port-a-potties, water trucks with flat tires, et al.
Bugs Bunny

[Kristin]

The haven't halted anything they have handed it over to the lender. Larwin walked and didn't pay the subs now the project has mechanics liens. Larwin is planning on shutting its doors and eventually reopening under a new name. Larwin personally owes me money for the project in simi. It is not unlikely to see single family or even multifamily tracts stopping. Sometimes for a year.
I have personally filed a lawsuit against them as well as going after their Contractor's State LIcense. They informed me they just don't have the money so file a mechanics lien. That's Larwins answer, but only after you have been given the runaround as to when your check will be cut.

[Peter Mueller]

We've been trying to get LARWIN to remediate some serious builder's defects in our recently purchased home... haven't been able to get any kind of response for the last few months... am I SOL?

[J Jeffers]

Our LARWIN experience began with the promise of a loan they renigged on after our previous home was already sold. In a rush to close out one stage of the development before year's end they rushed our closing leading to the inability to access our chosen hardwood flooring and an ultimate bait and switch to a cheap laminate which scratches on contact. The house exterior was painted in the cold wet winter fog, not meeting Kelly Moore standards for application ( they couldn't even match it for touch ups). Air rushes in through all outlet plugs & around some air ducts. There is an electrical short behind the microwave and wall oven that flips the breaker and causes the oven not to work properly. The dishwasher does not work. The vent hood is minus the baffle in the wall pipe and is taped closed. Another electrical short exists in the wiring in the master bath where we are also unable to use the tub due to a dark powdery substance that flows into the water which when touched becomes grease like. The beautiful granite counter on the island was broken (someone stood on it installing pendants) and was replaced with a mismatched slab. And all of the bullnose on the black granite counters are an unpolished dull white. This is a partial list of outstanding items brought to the attention of three different Larwin representatives in the first eighteen months owning our five year new Northern California Larwin home. These go beyond builder defect, some are potential hazards. Perhaps the purchase of Larwin by C.N.A. Insurance out of Chicago will finally bring us some peace of mind; a home where we can cook, drink the water and stay warm. It's the least we expected from this "premiere builder of California".