The developer of a controversial, 40-acre auto center proposed in Yorba Linda said Wednesday that the company has pulled out of the project because of strong opposition from homeowners.
Kevin Hanson, vice president of Bedford Properties, said the company sent the Yorba Linda City Council a letter Tuesday night dropping the project because of the neighborhood battle against it. That battle included a lawsuit against the developer and a 4,000-signature petition.
"We lost a significant amount of money in the interest we had to pay on the property and the consulting expenses," Hanson said, adding that the company will sell the land.
Members of a homeowners group, Aware Concerned Citizens Organized for Reasonable Development, had sued to block the project and had circulated petitions for a referendum because they feared that it would increase traffic and noise and reduce property values.