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'Unnecessary' Money Spent by Developer

February 05, 1989

The developer of Chatelaine, a community of 236 townhouses in Torrance, reported the sale of 42 units in its first two increments, without models, brochures or other merchandising tools. Yet, Watt Homes went ahead and furnished models, finished a brochure and invested in a sales office.

Why? Robert A. Perlberg, a spokesman for the development, said:

"First, it was not a one-phase product, and the developer can't predict what the economy will be like (as future phases are released), but basically, Watt spent well over $100,000 more than was really necessary because the company is planning other projects in the area." Watt has built a number of residential communities in Torrance during the past 30 years.

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