Developer scrubs Anaheim hotel-condo project
A developer who had proposed a large hotel-condominium complex in the Resort District in Anaheim confirmed today that he was pulling out of the project because of a weak housing and hotel market and the pressure of a looming Disney-backed ballot initiative.
"It just doesn't make economic sense for us to continue," said Derek Baak, vice president of West Millennium Homes, whose company had spent close to $2 million on the project.
The mixed-use plan featuring a 105-room boutique hotel and 191 condo units was scheduled to go before the Planning Commission next week. Baak's proposal was one of at least two residential projects in the Resort District that would face a citywide vote if an anti-housing initiative passes in June.
dave.mckibben@latimes.com
