Delta Coves

More like what didn't happen to it. It's been all ready to go with some really nice docks already built. A few of which have "floated away". Only thing needed is houses and with the state of California's financial woes, I don't expect much to change. Except maybe a few more docks floating away.
 
Delta Coves Venture, LLC: involuntary Chapter 11 bankruptcy. Part of the Lehman/SunCal bankruptcy that went down in November 2008. Lehman Bros., those wonderful guys.

According to California real estate blog reports, Trustee Speier has received many inquiries about the possibility of buying individual projects out of the bankruptcies. However, no offers have been sufficient to pay off the Lehman mortgages, both because of the fall in the properties' value, and because Lehman as mortgage lender regularly cross collateralized two or more projects as a means of over-securing its loans and controlling its borrowers, which were generally 90% owned by Lehman investment entities.

http://implode-explode.com/forum/viewtopic.php?p=312879

There may be a move toward a California bankruptcy court auction of this SunCal property next year. Meanwhile, Contra Costa has some success with police powers in the Delta Coves issue.

http://www.eastbayexpress.com/ebx/will-lehman-abandon-oak-knoll/Content?oid=2172078
 
I see that the street lights are now out in Delta Coves...tweakers stole all the copper wiring...
 
That should make it easier for more docks to float away. Unless they are already being occupied by squatters.
 
Now that the lights are out, I better get in there and get me a dock before they're all gone. ;-)
 
I am amazed that the Generac generator and related equipment is still there...

As for the cranksters still living in the motorhomes on-site, I'm not so amazed...

It's a shame, actually...

Someday...
 
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