Repo House Listings and Real Estate Foreclosure Information

Agents - get your listings on House Repos

Foreclosure Woes For Ambassador Campus, Pasadena

June 11th, 2008

Foreclosure woes have descended on Ambassador Campus at Pasadena. The previous campus was targeted to be the site of a jumbo residential complex. The project was an ambitious one and would have included hundreds of condos, apartments and senior housing units. But the former campus has been foreclosed says Pasadena officials.

The entire 20 acres of the campus came under the gambit of the foreclosure. The locality is one of the best in the region – prize property. Historical preservationists had supported the project, Ambassador West, as it was regarded to be vital to the development of Old Town Pasadena. It was part of a jumbo plan including the setting up of hundreds more housing blocks and commercial units all around the former campus.

The Mayor of Pasadena, Bill Bogard said that this foreclosure would not have any effect on the other projects like “urban village”, Westgate. He downplayed the imminent foreclosure on the campus proper. He said, “I don’t see any particular critical need to develop on the property now (rather) than, say, five years from now. Life will go on.” For years the locals have been debating on the landmark site.

The property has green gardens dotted with fountains and trimmed lawns. There are heritage mansions that once made up Millionaires Row coursing along Orange Grove Boulevard. It was the property for decades of Worldwide Church of God.

The present plan won the support of some householder’s group and preservationists because it retained the old world charm of the campus while at the same time meeting the need for housing near the busy Colorado Boulevard shopping area and the Gold Line railway lines. Critics however complained that it would have worsened traffic snarls especially now that there has been a hectic housing development already in this area.

The director of Planning & Development of the city stated that the foreclosure put the clock back. But he did not want to rush into new schemes as an alternative. Development should be of a quality kind, he opined, “even if it takes a little more time.” It is one of the landmark sites of Pasadena with layers and layers of history interwoven in it.

Neither the owners nor the project officials were available for comment. Some of the developers who have had to scrap their schemes have returned deposits to the would-be tenants. With a change in the economic situation seniors are showing less interest.

Search US Repo Houses

Search images:

Popularity: 21% [?]

Share and Enjoy: These icons link to social bookmarking sites where readers can share and discover new web pages.
  • Digg
  • del.icio.us
  • Netvouz
  • description
  • Blue Dot
  • connotea
  • Netscape
  • Reddit
  • Technorati

Posted in Foreclosure |

Comments

Leave a Reply

 Comment Form