In March of this year, Oakland-based AF Evans Co. filed for bankruptcy protection, citing what else but the big crunch. At the time, the would-be developer of a huge mixed-use development at 55 Laguna put on a brave face for the SF Business Times by explaining that they would continue to seek development projects. Optimism was maybe not in short supply over at AF Evans— their website to this day projects completion of Vidrio, a 195-unit project in Pittsburg, in summer 2008. Sassy! In fact, according to a report by the SFBT yesterday, the city of Pittsburg now plans to put down $9.2 mil to buy and finish Vidrio, whose construction was halted at 90 percent done when it was foreclosed by the project lender. For the record, AF Evans has said that 55 Laguna would only experience "minimal impact."
· Pittsburg to buy stalled condo project [SFBT]
· 55 Laguna is OK! [Curbed SF]
· Bad News for 55 Laguna? [Curbed SF]
· Berkeley Hayes Valley Extension Redesign Approved [Curbed SF]