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Amid foreclosure wave, why build more?
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The Sept. 6 edition reported that a project, Sonata, consisting of 10 builtout homes, with 60 future lots, is threatened with foreclosure. This is the nature of the times, the greed that drove the housing onto the road to upside down housing. It is unfortunate for the speculators, developers, bankers . . . and the land. We cannot build more land.
Just in Cottonwood, we presently have a project that has gone bankrupt on Locust Street that had formerly been agricultural land. This property was rezoned and the land developed into a cul-de-sac waiting for eight new homes to be developed. Ah, disaster struck, and bankruptcy was imminent. It sits abandoned, full of overgrowth and a blight to the area.
On First Street in Cottonwood, once again, agricultural land was purchased, rezoned for 63 new homes, and the project commenced. The project has ceased to move forward with everything sitting abandoned and left our community wondering if bankruptcy will be imminent.
On Rhonda Road alongside the freeway, a project commenced for 12 duplexes. The land, formerly agricultural vacant land, was rezoned, and four of the duplexes developed, with the remaining untouched, awaiting a possible bailout, with possible foreclosure looming. One of the duplexes did sell, the remaining unfinished.
We have written endlessly to our Shasta County supervisors and the senior planner at the Shasta County Department of Resource Management with our concerns.
We have written endlessly to our Shasta County supervisors and the senior planner at the Shasta County Department of Resource Management with our concerns.
We ask of the Shasta County Board of Supervisors to not dance to the tune of a developer, and listen to the citizens of Cottonwood, the people who will still live amongst them long after the developer returns to the big city where he came from.
Brian and Donna Caldwell live in Cottonwood.




Posted by worthlessvet on September 16, 2008 at 7:41 a.m.
So what are you chapping about? So the housing market went bust, greedy developers are going bust. What does that mean for the concerned citizens of Cottonwood??? OPPORTUNITY, that's what. Quit your griping. Get your concerned nieghbors together, form an LLP, pool your assets, take over the developements, create your own ideal community, make money and live happily ever after. Or, you can continue to moan and groan about it until someone else figures out they can take advantage of the situation, developes the properties and ticks you off so you can complain to the county some more.
Posted by Live2Ride on September 16, 2008 at 8:15 a.m.
Apparently the Caldwell's house wasn't built, it erupted whole from the very living rock. I kid, for I feel the Caldwell's frustration: ag land should be kept as such or our food will be grown in Mexico and our ganja in our forests (sorry, couldn't help it).
This is the nature of capitalism: someone offers to buy your land, you sell, they get to do with it what they want. Greed is good: it's the American Way. However, greed coupled with rational self interest is better.
Don't want a new development on ag land? Then buy it or convince your neighbor not to sell. The other side of the capitalist coin is the greedy developer takes the risks: buys the land, jumps through the county, state, and federal hoops, then the economy plunges into a recession and he goes bankrupt. The partial development is a blight on the neighborhood, and, hopefully, we've all learned a lesson.
Posted by thehermit on September 16, 2008 at 10:24 a.m.
You have to wonder what these developers were thinking...A couple of these projects in Cottonwood were built right next to a freeway,and after the housing market started to slow down...This winter they will turn into mud filled lots.
Posted by gamerjohn on September 16, 2008 at 11:47 a.m.
I wonder where all the money loaned for the houses went. Banks funded the projects in stages so not 100% of the money was given up front, but enough was. Subcontractors have not been paid on some developments. Sure, gas prices went up, but that could not account for all the disappearing money.
Posted by yakuza on September 16, 2008 at 10:41 p.m.
Good grief, mk exposes more stupidity by stating "What's lost?" MK, if you'd like a reading list re: planning, long-term energy projections, the relationship between food and community, I'll happily recommend myriad works of nonfiction. Perhaps, you should start with Wendell Berry.
Posted by Prepare4Change on September 19, 2008 at 7:24 a.m.
"We cannot build more land."
Darn... and I was hoping to scrape enough dirt together to launch another earth.
Now how will I get away from these nuts on this planet? ;D
-Enjoy!
Posted by Prepare4Change on September 19, 2008 at 7:27 a.m.
in response to worthlessvet
With comments like that, you don't seem near as worthless as your name would suggest!
Thanks for the voice of reason!
Posted by reddingrebel on October 20, 2008 at 8:43 p.m.
Ok so now what you do is turn this into a positive...you know make something good out of it....following me here.....you have yard sales and farmers markets on those parcels....to use them for Something....Now there is an idea.....can't get back that AG land so might as well put it to other uses until that there real o state market comes back....
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