Readers of this blog will be aware of the on-again, off-again progress of this development. Most recently we have entered an off-again phase. Locals noticed that work on the site had become intermittent and then after Davidson Communities issued a statement bringing into question their future involvement in development of the site, locals saw more recently that the Davidson Signage and flags had been removed. Naturally people started wondering what was going on there, and specifically whether or not the rumors which had begun circulating that the development was being sold were true.
As the neighborhood organization for the area, TRENO, is ineffectual in providing information, I have tried to find some answers to some of the questions people are asking.
1. WHO OWNS THE CAMERON PROJECT?
Do Davidson Communities own the site? Does their seeming departure mean that they are no longer involved in it?
According to documents such as contracts signed with the City of Pam Springs, the site is owned by a limited liability company, RREF II-DC CAMERON LLC, the address of which according to the Secretary of State for California's website is 790 NW 107th Ave, Suite 400, Miami, FL 33172, which is the same address as Rialto Capital Management, which is, among other things, an asset management company, and a subsidiary of the Lennar Corporation. The Tract number for the development stated in City of Palm Springs documents is 33575 and in January of this year the site was spit into five lots distinguishing the planned commercial, residential and access roadway areas, with APNs of 508-630-001 through 005.
2. IS THE CAMERON PROJECT BEING SOLD AND WHEN WILL CONSTRUCTION RESUME?
Tim O'Grady, a spokesperson for Davidson Communities, told me that Davidson Communities had been one of the partners in the development of the site but now no longer are and will not now be continuing with the remaining building work. He confirmed that RREF II-DC CAMERON LLC are the current owners. He indicated that sale of the site was considered but that that had been rejected and it had been decided that development work would continue with a contractor who would build out the site as planned, "to price" (i.e. not as a partner in the development).
However, as Davidson Communities had stated that they are no longer partners in the development I wanted to get confirmation of the situation from the stated owners, RREF II-DC CAMERON LLC who, I was told, have retained Rialto Capital Management as their Asset Managers. When asked about the future of the site a spokesperson for Rialto was unwilling to confirm whether or not the site was for sale nor would he say whether it would be further developed, simply indicating that negotiations were ongoing. When asked for a timeline for some answers from the owners, he said they could be expected in two weeks from now.
So officially the owners are silent about the project for the moment but we should know more in a couple of weeks.
However, one other piece of information was provided by a contractor who recently told me that the site was going to be developed by Woodbridge Pacific, the firm currently building luxury homes on Ramon near the Ingleside Inn and which has submitted plans for the development of the site of the former Rock Garden restaurant, which is directly opposite the Cameron Project on South Palm Canyon Drive. That statement was not confirmed and may be mistaken but, if it is correct, the involvement of Woodbridge Pacific would make a lot of sense, because as a developer of other nearby sites they would have potential economies of scale in taking on the Cameron Project.
3. FOR HOW MUCH LONGER MUST THE SIDEWALK ON THE EAST SIDE OF SOUTH PALM CANYON REMAIN A HAZARD TO PEDESTRIANS?
One reason the delay in the development of this site concerns me is that the sidewalk on the east side of S. Palm Canyon Drive has been a hazard to pedestrians for years now. The City has done little to alleviate the situation and it remains a hazard now especially for pedestrians at night. The City has taken the view that the sidewalk will be repaired when the developer sees fit in the normal course of events. But as we have seen with this project the course that events can take can span years and even decades. So I have raised the issue with the City's Engineering Dept and they have offered to examine the sidewalk and see what measures are needed to alleviate the problem. That inspection should be undertaken next week.
As the neighborhood organization for the area, TRENO, is ineffectual in providing information, I have tried to find some answers to some of the questions people are asking.
1. WHO OWNS THE CAMERON PROJECT?
Do Davidson Communities own the site? Does their seeming departure mean that they are no longer involved in it?
According to documents such as contracts signed with the City of Pam Springs, the site is owned by a limited liability company, RREF II-DC CAMERON LLC, the address of which according to the Secretary of State for California's website is 790 NW 107th Ave, Suite 400, Miami, FL 33172, which is the same address as Rialto Capital Management, which is, among other things, an asset management company, and a subsidiary of the Lennar Corporation. The Tract number for the development stated in City of Palm Springs documents is 33575 and in January of this year the site was spit into five lots distinguishing the planned commercial, residential and access roadway areas, with APNs of 508-630-001 through 005.
2. IS THE CAMERON PROJECT BEING SOLD AND WHEN WILL CONSTRUCTION RESUME?
Tim O'Grady, a spokesperson for Davidson Communities, told me that Davidson Communities had been one of the partners in the development of the site but now no longer are and will not now be continuing with the remaining building work. He confirmed that RREF II-DC CAMERON LLC are the current owners. He indicated that sale of the site was considered but that that had been rejected and it had been decided that development work would continue with a contractor who would build out the site as planned, "to price" (i.e. not as a partner in the development).
However, as Davidson Communities had stated that they are no longer partners in the development I wanted to get confirmation of the situation from the stated owners, RREF II-DC CAMERON LLC who, I was told, have retained Rialto Capital Management as their Asset Managers. When asked about the future of the site a spokesperson for Rialto was unwilling to confirm whether or not the site was for sale nor would he say whether it would be further developed, simply indicating that negotiations were ongoing. When asked for a timeline for some answers from the owners, he said they could be expected in two weeks from now.
So officially the owners are silent about the project for the moment but we should know more in a couple of weeks.
However, one other piece of information was provided by a contractor who recently told me that the site was going to be developed by Woodbridge Pacific, the firm currently building luxury homes on Ramon near the Ingleside Inn and which has submitted plans for the development of the site of the former Rock Garden restaurant, which is directly opposite the Cameron Project on South Palm Canyon Drive. That statement was not confirmed and may be mistaken but, if it is correct, the involvement of Woodbridge Pacific would make a lot of sense, because as a developer of other nearby sites they would have potential economies of scale in taking on the Cameron Project.
3. FOR HOW MUCH LONGER MUST THE SIDEWALK ON THE EAST SIDE OF SOUTH PALM CANYON REMAIN A HAZARD TO PEDESTRIANS?
One reason the delay in the development of this site concerns me is that the sidewalk on the east side of S. Palm Canyon Drive has been a hazard to pedestrians for years now. The City has done little to alleviate the situation and it remains a hazard now especially for pedestrians at night. The City has taken the view that the sidewalk will be repaired when the developer sees fit in the normal course of events. But as we have seen with this project the course that events can take can span years and even decades. So I have raised the issue with the City's Engineering Dept and they have offered to examine the sidewalk and see what measures are needed to alleviate the problem. That inspection should be undertaken next week.
