North developer plans to file for bankruptcy

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Posted by RM.com on Fri, 08/29/2008 - 10:52am.
RM.com
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Woodside Homes, one of the North developers, is about to file for Chapter 11 bankruptcy protection, the Bee reports.   Woodside is the developer for the Residences of Murieta Hills West, a 99-home subdivision proposed for the area bounded by Stonehouse Road and Escuela Drive. The project was one of three on the North that the Sacramento County Board of Supervisors approved last year.  



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Sat, 08/30/2008 - 7:30am
Marklin Brown
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bankruptcy

These folks brought on themselves through over developmental greed. Why is a Utah based developer here anyway? Not enough California based?



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Sat, 08/30/2008 - 1:13pm
John Dekker
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Woodside Homes

Woodside Homes was not the developer of any land on the North. They were going to purchase the parcel known as The Residences of Murieta Hills from the developer, The Operating Engineers Pension Trust Fund, through their managers, Cassano and Kamillos.

Why is it that any one in the home building business is automatically a "greedy developer"?  Woodside was a good company that built a very good product, but got caught in the horrible market, like many builders, including C.C. Meyers. I have several friends that worked for Woodside, and they all liked working there. Now they will be unemployed, like many folks in the home building business. Did they get what they deserved, and were they greedy developers? The fact that the company was based in Utah is, of course, irrelevant.

Did not all of us buy our homes from a home builder? Let's not be so quick with the knee-jerk reactions.