News 24/7

General Growth forbearance request deadline passes

Mon, 16 Mar 2009 18:25:10 -0800

LOS ANGELES (AP) -- The deadline for General Growth Properties Inc.'s plea for an extension on more than $2 billion in debt expired Monday, but it wasn't immediately clear whether the troubled mall operator convinced any of its bondholders to give it more time to regain its financial footing.

The Chicago-based real estate investment trust, struggling to stave off a Chapter 11 bankruptcy filing, asked holders of $2.25 billion worth of bonds last week to put off calling in payments until the end of this year while it tries to refinance its debt load.

The consent solicitation, launched by its Rouse Company LP unit, expired at 5 p.m. EDT on Monday, although the terms included the possibility of an extension.

Ontario to back NFL stadium at City of Industry

Mon, 02 Mar 2009 12:41:01 -0800

At Tuesday's council meeting, the Ontario City Council is expected to approve a resolution backing the construction of an NFL stadium in the City of Industry.

In the report to the council, the city is backing the stadium because of the benefits to the city. The city could receive additional sales tax and transient occupancy tax revenues and the amount would depend on the number of games, events and entertainment activities held annually.

The report says: "Ontario is located within a short distance of the proposed project location and has the unique advantage of being serviced by LA/Ontario International Airport, nearly 50 hotels offering over 5,100 rooms, and three major freeways providing access to the stadium from the east."

Read more at Ontario Now.

liset.marquez@inlandnewspapers.com

Ontario City Council wants to give developers more time

Mon, 16 Feb 2009 15:46:22 -0800

The Ontario City Council Tuesday will consider an ordinance to assist developers, land owners and business owners in the economic slowdown.

If approved by the council, the ordinance would grant a one-year time extension to all development plan, conditional use permit and variance approvals which are due to expire on or before March 1, 2010.

During the Jan. 20 meeting, the City Council directed staff to review the impacts of the current recession on development and land-use applications in the city and make recommendations that might assist developers, land owners and business owners through this economic slowdown.

A total of 95 applications would be affected by the granting of a one-time, one-year time extension.

liset.marquez@inlandnewspapers.com

Loma Linda Council to consider axing major projects

Tue, 10 Feb 2009 16:33:00 -0800

Tonight could be the day of reckoning for Orchard Park and University Village.

The council approved the two development projects in September 2005. Plans call for 2,500 homes and apartments, commercial space, park land, trails and an 11-acre school site between Redlands Boulevard and Mission Road and west of California Street.

After the projects were approved, a citizens' group known as Save Loma Linda circulated petitions to require a referendum for each of the projects.

Loma Linda Quiet Zone plan moves forward

Thu, 29 Jan 2009 17:44:13 -0800

The Loma Linda City Council has approved the next step in the process of establishing "quiet zones" in residential areas near Union Pacific Railroad tracks.

The council on Tuesday approved a contract for engineering services to design street improvements for quiet zones at Whittier and Beaumont avenues.

Quiet zones are areas where trains are prohibited from blowing their horns.

The city must meet certain requirements in order to get permission from the Federal Railroad Administration to install quiet zones.

The city has been working on the process for several years.

Read more at Loma Linda Now.

stephen.wall@inlandnewspapers.com

Loma Linda General Plan plans drag on

Fri, 16 Jan 2009 18:22:47 -0800

It seems like it will never end.

The City Council decided not to take any action this week on revisions to the General Plan, the document that guides land use for the next 20-plus years.

Instead, the council sent the matter back to the Planning Commission.

The commission will make further recommendations and then it will go back to the council for a final vote.

That should happen in March.

Demolition of Pomona paper plant completed

Thu, 15 Jan 2009 13:30:48 -0800

On Tuesday, Seventh Street Development and CB Richard Ellis announced the completed demolition of the long-standing Blue Heron Paper Plant in Pomona's newly-transformed Western Gateway.

This paves the way for the proposed reuse of the 20-acre site. Seventh Street Development, in partnership with Genesis Real Estate Fund II, is working with CB Richard Ellis to market the proposed Valley-71 Business Park to potential buyers and tenants, with plans to secure the commitment of at least 200,000 square feet prior to beginning construction.

Wells Fargo Bank is providing the acquisition and construction financing. CBRE industrial market experts Lynn Knox, Barbara Emmons, Garrett Carter and Darla Longo are representing Seventh Street Development in the marketing of the buildings.

Read more at The Bizz.

matthew.wrye@inlandnewspapers.com

Grand Terrace close to settling lawsuit Grand Terrace pushing to settle lawsuit holding up needed senior housing development

Thu, 08 Jan 2009 19:45:15 -0800

Grand Terrace is working to resolve legal issues surrounding the long-awaited senior housing project.

The City Council met in closed session Tuesday night and discussed a potential settlement of a 2005 lawsuit filed by a residents' group regarding the 120-unit apartment complex for low and middle-income seniors.

The council directed City Attorney John Harper to attempt to resolve an appeal in the case and enter into a final settlement agreement.

Redlands enters discussions to possibly buy Redlands Mall

Thu, 08 Jan 2009 19:20:16 -0800

The Redlands City Council has voted unanimously to enter into a confidentiality agreement with Redlands Mall owner General Growth Properties which would prevent council members or city employees from making public any details of a possible mall purchase.

Redlands Redevelopment Agency Director Dan Hobbs said the city has conducted informal conversations with Martin Bahtra, General Growth's senior development director, relating to the future of the Redlands Mall.

The financial setbacks facing General Growth and Gottschalk's, Inc., a mall tenant, led the City Council to instruct city staff to monitor the mall's situation closely, Hobbs said.

Highland panel reviews proposed housing development on Greenspot Road

Wed, 07 Jan 2009 18:52:21 -0800

The Highland Design Review Board on Tuesday reviewed a development plan for 133 homes on about 22 acres on the southeast corner of Greenspot Road and Orange Street.

Concerns centered around street right-of-ways, drainage and a proposed trail and open space, and how the project relates to another neighboring development approved by the city a couple of years ago, said John Jaquess, Highland's community development director.

City staff will prepare a packet for the Planning Commission to review at an upcoming meeting, likely in March, Jaquess said.

In other news, the board approved a sign program for a new Farmer Boys restaurant and a stand alone retail building on a 1 1/2-acre parcel of land on the northwest corner of Fifth Street and Palm Avenue.

The restaurant is currently under construction.

Rancho Cucamonga Fresh & Easy to arrive by June

Wed, 07 Jan 2009 17:10:34 -0800

I always thought the city's first Fresh & Easy would be either on Foothill and Vineyard or Haven and Church -- two locations that are being planned. I was wrong.

The U.K.-based grocer, which opened a new store in Chino Hills today, will open a location on Foothill and Day Creek in the plaza where BevMo and REI are. The site was once occupied by Drexel Heritage furniture store.

Carol Plowman, the broker of that center, said the lease was recently signed and the store is expected to be open by June.

Read more at RC Now.

wendy.leung@inlandnewspapers.com

Redevelopment project in store near San Bernardino airport

Tue, 06 Jan 2009 18:15:51 -0800

Redevelopment in neighborhoods near San Bernardino International Airport could transform an area of older houses and vacant lots into a more business-focused area, officials said.

The City Council, acting in its role to oversee the San Bernardino Economic Development Agency, voted unanimously Monday night to participate in a joint venture with other local agencies to buy real estate in an unincorporated area near the airport.

New Loma Linda University Hospital to open next week

Fri, 02 Jan 2009 17:35:35 -0800

After years of delays and much controversy, the new Loma Linda University Heart and Surgical Hospital is set to open Tuesday, Jan. 6.

The new hospital will offer services in cardiac care, urology, women's health, head and neck care, and minimally invasive surgery.

The public is invited to a special grand opening ceremony at 10 a.m. at the hospital at 26780 Barton Road.

Most of the 28 beds in the facility are private rooms with outdoor patios.

Patients will be able to enjoy services and amenities similar to a five-star hotel, said hospital administrator Jesse Mock.

Loma Linda Planning Commission to discuss condos

Fri, 02 Jan 2009 13:50:00 -0800

The city's Planning Commission meets on Wednesday, Jan. 7 to review plans for a 10-unit condominium complex in the 25400 block of Cole Street.

The proposal also calls for a recreation area and private yards for each unit.

A single-family home on the site is slated for demolition as part of the project.

The panel meets at 7 p.m. in the City Council Chambers, 25541 Barton Road.

Rialto to discuss downtown improvements

Fri, 02 Jan 2009 13:08:56 -0800

Officials here will discuss what's up with downtown, in a public workshop next week.

In a meeting scheduled for Jan. 6, housing and redevelopment staffers will present to the City Council highlights of its Downtown Vision and Strategic Plan.

"We think we have a plan the community will be happy with," said John Dutrey, housing manager for the city.

Tuesday's meeting will start at 6 p.m. in Council Chambers at 150 South Palm Ave.

josh.dulaney@inlandnewspapers.com