Antioch's luxury development goes into receivership

cctimes:

The proposed Roddy Ranch development, envisioned as a neighborhood of grand estate houses and condominiums and a hotel nestled around a golf course in the shadow of Mount Diablo, has hit another roadblock.

The development has gone into receivership after lender Gramercy Warehouse Funding II LLC last month began foreclosure proceedings on more than 1,000 acres of undeveloped land near Deer Valley and Empire Mine roads owned by a consortium of developers.

Gramercy also filed a notice of default July 23 against the consortium, known as Roddy Ranch PBC, LLC. That filing cites a failure to pay on a $36 million development loan.

this development was opposed by the sierra club and the greenbelt alliance, but supported by Democratic lawmakers. most likely it will still happen, it will just take a bit more time. it's foolish to build houses in today's market.

speaking of development on open space, it should also be mentioned, that in July, the Contra Costa Local Agency Formation Commission (LAFCO) decided to incorporate The Los Medanos Hillside into Pittsburg’s city boundaries and extend water and sewer services to the
area. this is the first step toward development.
we concordians cannot allow those evil pittsburgians to destroy our view and our way of life! i urge everyone out there to do everything they can to stop the development of this hillside.