No Marblehead soon..it's on hold as lawsuits emerge.
San Clemente
The long awaited Marblehead Coastal development may be a dream for sometime long into the future. It is reported to be on hold as SunCal faces "legal and economic challenges" according to the San Clemente times article of March 5.
The parks were scheduled to be done by September 2007, The roads, street lights, sidewalks, and infrastructure was to be completed by August 2007. Plaza San Clemente was to have opened by winter of 2008 with restaurants, a movie theater and 129-room botique hotel to welcome tourists.
SunCal at first blamed the weather for the delay, then the weakening economy, and finally it was admitted they had to revisit the plan with the lender. Now it comes to light that their are lawsuits against SunCal on various projects of theirs. The city of San Clemente is filing legal action against SunCal for defaulting on the development obligations and San Juan Capistrano is also threatening legal action for unfinished traffic improvements for a project in San Juan Capistrano.
A SunCal spokesperson says the company is ready to move forward with work at Marblehead. From appearance recently, nothing has moved forward except the removal of some equipment on the site.
Will it remain an eyesore on the bluff.. or will we see some work continue?
No matter what happens, this has been a huge disappointment so far for many in San Clemente. Let's hope SunCal works through their problems and bring the long awaited Marblehead Coastal project back to life.
In the meantime, if you are looking to buy a home in San Clemente, you can visit San Clemente Real Estate.
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Date: Friday, March, 7th 2008 @ 05:52:09 PMViews: 367
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