The closure at the end of the year of a century-old power station in Redondo Beach may have cleared the way for a builder's remedy project that aims to build up to 2,700 homes on the 49-acre site.
Before that happens, the courts will have to settle a dispute between the Redondo Beach City Council, which has rejected the project under local zoning laws, and the developer, who has filed a lawsuit which maintains the project is eligible to move forward under builder's remedy.
The plans that were filed in July 2022 by the site's owner, developer Leo Pustilnikov, may have been the first in the state to invoke builder's remedy, according to a report in the Orange County Register.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.