Another casualty
- Thread starter Irvinecommuter
- Start date
NEW -> Contingent Buyer Assistance Program
Do you happen to remember what year that last BK was? Mine is a WL home in FR circa '92 or '93. 'Tis why I ask. But so far, as we've had to remove drywall, ceiling, and such, construction crew has made seemingly-positive remarks, ex: how they've never seen a home with so many ceiling beams before, which I take as a good sign.
irvinehomeowner
Well-known member
So does this mean the Alderwood and Vista Verde Irvine projects are still on?
usctrojancpa
Well-known member
This is just a re-structuring so I'm sure they'll move forward with the projects that they have. They've re-capitalized their balance sheet by the debt-to-equity swap and coming in with more equity.
sgip
Well-known member
The last WL BK I saw was shortly after they started building Foothill Ranch. Post filing they started offering really stripped down econo-box homes with terrible designs. They owned the land so they could pretty much do what they needed to just to finish out most of the development. KB stepped in and built in FR as did other boutique builders. I don't think TIC is going to let these Lyon project waste away. Either they will get completed by the survior company Lyon has or the projects will get flipped to another builder.
So much for the bright sunny days ahead for new construction in The OC.
So much for the bright sunny days ahead for new construction in The OC.
socal78
Well-known member
Soylent Green Is People said:
Do you happen to remember what year that last BK was? Mine is a WL home in FR circa '92 or '93. 'Tis why I ask. But so far, as we've had to remove drywall, ceiling, and such, construction crew has made seemingly-positive remarks, ex: how they've never seen a home with so many ceiling beams before, which I take as a good sign.
sgip
Well-known member
It was about at that time. Lyon was building these "American Freedom" or something like that properties under a Corporation that didn't list the Lyon name. They were also building under the Lyon banner at the same time so I don't know quite which development you were in. Their cheap and unbranded homes were the "K+B" of their day. Some were great homes, some were lemons.
That said, I live in a K+B home and it's a nice, well built property. Our neighbors have had plumbing issues, beer cans stuck behind walls, and spare concrete poured in their yard that's just now starting to come unearthed. You never know with builders and their subcontractors. Some at the time really took pride in their work. Others went to home depot and hired whomever could work that day on the cheap. Early 90's were as bad for Construction as it is today so there were a great number of very willing subs to get the job done as fast and as thin as possible.
SGIP
That said, I live in a K+B home and it's a nice, well built property. Our neighbors have had plumbing issues, beer cans stuck behind walls, and spare concrete poured in their yard that's just now starting to come unearthed. You never know with builders and their subcontractors. Some at the time really took pride in their work. Others went to home depot and hired whomever could work that day on the cheap. Early 90's were as bad for Construction as it is today so there were a great number of very willing subs to get the job done as fast and as thin as possible.
SGIP