Palm Desert Development And Redevelopment

Residents of a golf resort condominium development in Palm Desert settled a construction defect suit for $9 million Friday--much of it reportedly coming from a major Orange County builder's liability insurer. The settlement agreement prohibits either side from revealing the developer's name, but the lawsuit that started the lengthy negotiating process was filed in Riverside Superior Court in 1991 against Newport Beach-based Presley Cos. and several affiliated companies and partnerships.

Residents of a golf resort condominium development in Palm Desert settled a construction defect suit for $9 million Friday--much of it reportedly coming from a major Orange County builder's liability insurer. The settlement agreement prohibits either side from revealing the developer's name, but the lawsuit that started the lengthy negotiating process was filed in Riverside Superior Court in 1991 against Newport Beach-based Presley Cos. and several affiliated companies and partnerships.