May 14, 1998
California Coastal Communities, developer of the controversial housing project at the Bolsa Chica wetlands near Huntington Beach, said it broke even for the first quarter. The Newport Beach company, formerly known as Koll Real Estate Group, said its income from discontinued operations was offset by general and administrative expenses.
CALIFORNIA | LOCAL
May 6, 1998 |
A local developer this week failed to convince an appeals court to immediately take up the question of whether a state panel incorrectly approved a 1,235-home development next to the fragile Bolsa Chica wetlands near Huntington Beach. A Superior Court judge earlier ruled that the state Coastal Commission improperly approved the development, which could delay the project for as much as a year or more.
April 1, 1998 |
Developer Donald M. Koll, who waged an 8-year battle to build a housing project at the Bolsa Chica wetlands, said Tuesday he is severing his ties with the controversial development. Koll plans to resign as chief executive of Bolsa Chica developer Koll Real Estate Group Inc. The company, which is facing further delays in the 1,235-home project, plans to sell its nonresidential operations for $30 million to a group led by Koll.
April 1, 1998
Koll Real Estate Group Inc., facing further delays in its controversial housing development above the Bolsa Chica wetlands near Huntington Beach, said it plans to sell its nonresidential operations for $30 million to Chief Executive Donald M. Koll, who is leaving the company to form a new one. The funds will become a war chest for Koll Real Estate as it tries to finish decades of legal wrangling. The commercial business that Koll Real Estate is selling develops property for other companies.
CALIFORNIA | LOCAL
March 4, 1998 |
In a move that may further delay a controversial proposal to build 1,234 homes on the Bolsa Chica mesa, the City Council this week decided to stop processing further permit requests from the developer. The council's decision follows a recent Superior Court ruling that will delay the Koll Real Estate Group project for at least a year.
February 18, 1998 |
Two big financial companies have disclosed that they acquired major stakes in Koll Real Estate Group Inc. during the company's reorganization in September. In a Securities and Exchange Commission filing Tuesday, Credit Suisse First Boston said it owns 918,761 shares, or 7.7%, of the Newport Beach company's common stock. In a similar filing recently, Merrill Lynch & Co. said it owns 1,038,259 shares, or 8.7%, of the common stock. The investment houses were major holders of Koll Realty bonds.