The Pacifica Planning Commission on September 17 approved the first retail cannabis dispensary resulting from the recent lottery that allows for six recreational pot dispensaries in the city, but this dispensary has chosen to dispense medical pot only, at least for now. The new dispensary, called The Phog Center, will open at a 641-square-foot commercial space at 2270 Palmetto Avenue, across from the Sharp Park Library.
Alan Wald predicts that construction underway at Pedro Point shopping center means that Pacifica's new Cannabis Row of marijuana dispensaries will become as famous as Monterey's Cannery Row of fisheries.
According to Big Banker, Daniel Rosenbledt, one of the convicted investors (click link above), bought the Rockaway Beach Clocktower loan from First National of Northern California.
Better Business Burro and NextDoor commenters say that Lovey's Tea Shoppe on Highway 1 closes March 26 for renovations, then reopens in April.
Big Banker reported March 17, 2018: "The Notice Of Trustee Sale on Sonora Shores was posted for foreclosure sale on April 3. The amount due is $14,386,901.90, cash or cashier's check. The Notice Of Trustee Sale was published in the Pacifica Tribune March 14, March 21, and March 28."
Big Banker reported March 5, 2018: "Sonora Shores luxury housing project on Fassler and Roberts Road has a 04-03-2018 foreclosure date. A Notice Of Sale has been recorded on the property."
Big Banker reported February 4, 2018: "On November 30, 2017, a Notice of Default was filed on Sonora Shores Harmony @ 1 project. This is the existing loan recorded April 30, 2014. The Trust Deed in the amount of $9,600,000 has swelled to $13,572,548.99. The loan was due to be paid in full by April 25, 2016."
Big Banker reported August 8, 2015: "As of the close of business Friday, August 28, there were no recorded liens or notice of default. First loan, $5 million. Second loan, $5.6 million. On February 17, 2015, a strange deed of trust was recorded by Sonora Shores in favor of Urban Land, a performance deed of trust, which normally means there is some kind of equity share agreement between Sonora Shores and Urban Land, a specific performance action that takes place when lots sell. The only items filed and recorded were the Declaration of Convents, Conditions, and Restrictions (CCR); and a subordination agreement on July 29, 2015 regarding the CCRs."
Click the Comments link below this post for the conversation thread on this controversial project that died on the hillside.
Angels Landing Partners