Going through the motions
It's my strong belief, this hearing, as the one that will soon follow, is little more than the developer going through the motions. They WILL get their approvals--no doubt. But few (in development circles) believe they will construct the proposed project. As of their last notification, the project has no store and no housing developer.
They also need to fund a 12-14 million dollar water plant (and wait for it to be constructed) before they can pull a single building permit. So far, this (and the other long-gone developers) haven't paid for that water plant project.
In addition, as has been reported multiple times, they are no longer in CSD negotiations due to legal fee disputes.
In 2004, the Murieta Gardens developer claimed (in the Biz journal) they needed approximately 1,400 additional new homes before their project could break ground. They thought that would happen by 05 to 06. It's now 2010, and there are zero new houses. And many in the business believe, those houses won't move forward. (at least not on that level) Again, most of the approved development projects (both north and south) in Murieta are, now, in bankruptcy, with no buyers interested in acquiring the maps.
Why, then, some may wonder, would the Gardens developer continue the hearing process? Map approvals for developers are crucial to raising land values. Having the project look good on paper is a common phenomenon, but building is an entirely different matter.
The bottom line is, I'll attend the hearing, but I'm not sweating the outcome. I'm relatively certain they'll get approved, but, I'm convinced, building the project, as proposed, is simply not on the horizon.
On that note, just last week, a well-established local realtor told me, "Anyone who's ever taken a high school economics class knows the project just isn't viable."