So it looks like there are problems with the Tustin base project. While they may be starting to build again in CS and CG, the rest of the larger plan isn't going well. I've always wondered when the 2 mile park was going to be built.
http://lansner.freedomblogging.com/2010/04/28/tustin-base-project-called-worthless/63835/
"Tustin base project called worthless
April 28th, 2010, 10:28 am ? 1 Comment ? posted by Jeff Collins
Two units of J.F. Shea Co. say they want to back out of a deal to develop the an 820-acre parcel at the former Tustin Marine air base, saying that falling land values make it impossible to build homes, shops, offices and a hotel in today?s economy.
Shea maintains that land once valued at $236 million is now valued near zero, one city official said.
Tustin Legacy Community Partners (TLCP), consisting of Shea Properties and Shea Homes, agreed in 2006 to pay $236 million for the project, plus install infrastructure such as roads, sewer and water systems and parks in exchange for 160 developable acres in the heart of Tustin.
But Shea Properties President Colm Macken said that home and commercial values have sunk so low that it?s not worth going forward with the project unless the city of Tustin makes concessions it?s not willing to make."