"After a Los Angeles judge ordered the city in March to post a $14 million bond in order to move forward on an appeal, La Canada Mayor Mike Davitt said continuing the legal battle against Cedar Street's proposed five-story apartment-hotel-office project at 600 Foothill Boulevard was no longer in the best interest of the city. The development calls for 7,200 square feet of office and roughly 80 dwelling units, of which eight are affordable and 16 are slated for hospitality."
"Builder's remedy has definitely moved the needle. A number of jurisdictions realized that the games they've played in the past to prevent housing will not work in the future. They've come to realize that they need to do legitimate housing elements [required by the state]. The HCD, the Housing and Community Development Department of the state of California, reviews [housing elements] and is keeping closer tabs on what cities are doing as far as implementations. So, yes, I do think there's a s"
La Cañada Flintridge contains a 1.3-acre site where Cedar Street Partners is advancing a five-story mixed-use project at 600 Foothill Boulevard. The proposal includes roughly 80 dwelling units, 7,200 square feet of office, eight affordable units and 16 hospitality units. A Los Angeles judge ordered the city to post a $14 million bond to continue an appeal, prompting the mayor to halt the legal fight. Cedar Street anticipates building plans in six to eight months and is pursuing roughly $6 million in litigation cost recovery. Jonathan Curtis, a Cedar Street managing member, formerly served on the city council and as mayor. State builder's remedy provisions and HCD oversight influenced leverage for the development.
Read at therealdeal.com
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