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SunCal To File For Bankruptcy On 10000 Santa Monica Project

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Somewhere, Donald Trump is smiling. The LA Times' Roger Vincent reports that SunCal will file today for bankruptcy protection for its now-dead Jean Nouvel-designed project at 10000 Santa Monica Blvd. But by filing for bankruptcy, rather than selling the land (the developer is considering selling other properties), SunCal execs hope that new investors for the project will be found. "The bankruptcy action can lead to the development of new sources of capital," SunCal's spokesperson David Soyka tells the paper. Meanwhile, Vincent also rehashes the history of the land, recounting the bidding war between SunCal and Trump (the former paid $110.2 million) for the land.
· SunCal files for Chapter 11 for two projects [LA Times]
· Score One for West Coasters [Curbed LA]