Rockaway Workforce Housing Partners bought two parcels of land in Pacifica for more than $8 million -- one parcel from Pacific Land Conservation for $3,780,500 and the second from Seventeen Enterprises LLC for $4,320,000. The 398.284-acre parcel is scheduled for foreclosure sale on May 23. Total Debt: $5,086,028.93. (Source: Big Banker)
The Midcoast is in an uproar about a proposed 206-room luxury hotel across from the Frenchman’s Creek (Ruisseau Francais) neighborhood in Half Moon Bay. Oh great, let's put more cars on Highway 1, just what we need! Hashtag Enough Already!
Also of note: The hotel developer's cheerleader Kendall Flint was outed and chastised on the Midcoast NextDoor forum for promoting the project without identifying herself as the developer's employee. The Half Moon Bay Review (May 2) revealed her identity and connection to the developer.
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
Better Business Burro says that talks have broken down between Friend Hotel Developers and the City of Pacifica regarding development of a hotel at the city’s old Waste Water Treatment Plant (WWTP) site in Sharp Park. The city survey (click link above) shows about 2-1 support for building a hotel at the site, but that is based on a mere 80 survey respondents. Out of a city of 40,000, that's about one-tenth of 1 percent.
The City of Pacifica is working with community groups and scientific experts to plan for sea-level rise along the coast. Click press release link above for archives and background.
Big Banker reports that 340 Waterford reverted to the lender today (08-02-2017) for $690,669.85. B.B. said that Alex Fraser, point man on the troubled Harmony @ 1 project at Fassler & Roberts Road, was having trouble with his parcel at 340 Waterford in Pacific Manor, next to the car wash. It was originally scheduled for foreclosure sale on April 26, but the sale had been postponed multiple times.
Several of these obscene story poles have sprung up along Vallemar Street in Moss Beach, overlooking Vallemar Bluffs and the Pacific Ocean. Apparently, the developer is moving ahead with plans to cut down the scenic Monterey cypress trees and build houses.
Redesigned version of what used to be called The Prospects project:
The rest of the SEIR on the city's environmental documents page:
Colliers International presents a glossy four-color spread (click link above) promoting its planned project behind the Moss Beach bluffs. Locals are none too happy about this oxymoronic "business park."