TORRANCE — A developer whose plans for a 416-unit condominium complex at the Park Del Amo project were denied by the City Council on June 27 has filed suit against his would-be partners in the massive residential and commercial project, alleging fraud and deceit.
Lincoln Property Co., which agreed in December to buy part of the project site to build the condominium complex, claims in the suit filed June 30 in Torrance Superior Court that Torrance Investment Co. and Park Del Amo Builders Inc. knew that pending litigation between the city and the developers over ownership of the Madrona Marsh would affect Lincoln's ability to get city approval for its plans.
Lincoln also alleges that despite a 1983 agreement between Torrance Investment and the city that all residential units at Park Del Amo would be sold, developers agreed to sell the land to Lincoln knowing that Lincoln intended to retain ownership of the condominiums and rent them out.
Lincoln is seeking $110 million in actual and punitive damages, and asking the court to force Torrance Investment to give the city title to the nearly 43-acre marsh, as called for in the 1983 agreement between the developers and the city. Developers had agreed to dedicate a portion of the marsh, one of the last stopping grounds in the South Bay for migratory birds, in exchange for being allowed to build 1,485 residential units and 850,000 square feet of commercial space.