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LA to finish construction of unfinished Santa Barbara apartment complex
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LA to finish construction of unfinished Santa Barbara apartment complex
LA to finish construction of unfinished Santa Barbara apartment complex
Los Angeles is looking to complete construction of an apartment complex whose construction stopped three years ago when the developer stopped paying its contractors.
Developer defaults and bankruptcy have tied up what used to be called Santa Barbara Plaza for years. Emerging from bankruptcy clears the way for development of attractive land neighbors and city officials have been trying to overhaul for more than a quarter of a century.
L.A. City Councilman Bernard Parks stood with business leaders in front of the unfinished Buckingham Place Senior Apartments. Some of its 60 units already have carpeting and appliances, but construction stopped on the complex three years ago when its developer stopped making payments to contractors.
Now, L.A.'s Community Redevelopment Agency controls the property and has brought on a new developer to finish Buckingham Place. It plans to begin work in a matter of months.
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