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Fuller Lofts Lives! Lee Homes Takes On Lincoln Heights Project

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There is some dizzingly good news to report: Lincoln Height's Fuller Lofts, abandoned by its bankrupt parents Liveable Places last year, is an adaptive use ghost building no more. Local SoCal developer Lee Homes has stepped in and resumed construction on the San Fernando Road building, confirms Lee Homes president Jeff Lee. "We are officially under construction since last Monday," Lee tells us. "We are doing everything that we would do on any other building. We are going to finish all the construction and do all the sales and marketing."

Citibank, which foreclosed on the 104-unit building last year, still owns the Pugh + Scarpa-designed project (Property Shark records show the foreclosure sale went through in February for $12 million). According to Lee, sales and marketing will start around Labor Day and the first closings will be in November when the building finishes. Pricing? "I don't want to get into pricing," says Lee. "We are just getting the'll be a question of looking at the market, seeing if the new home inventory is going to shrink. Well, it will shrink." Lee Homes' tactic in working on the building follows comments made by Lee Homes' Chairman Harlan Lee at a downtown Central City Association meeting earlier this year. According to Blogdowntown, Lee told the audience that the "current downturn has caused his company to reassess its role, and brought about a new business in acquiring and finishing troubled projects." Lee Homes is also currently involved in that Pier Pointe deal with CIM, but Jeff Lee said he couldn't talk about it because the building is in escrow. Anyway, welcome back, Fuller Lofts!

The arrow points to the entryway for the new office for Lee Homes.

August 2007: Pre-Sales open at the Pugh-Scarpa Designed Building

November 2007: Reader Report From The Construction Site

February 2008: Work Stops

February 2008: Answering Machine Promises Sales Office Will Re-Open in One Month

April 2008: Swinerton Builders Files Suit, Wants $11.7 million

April 2008: More Details: Developer Liveable Places Implodes

June 2008: Hanging out with the Security Guards at Empty Building, Watching Television

October 2008: Where Be Fuller? Curbed Leaves 24 messages at Paul Hastings, legal firm handling building for Citibank over a two week period, Seeking Word About Fuller Lofts. No Word Back.

March 2009: Fuller Lofts Makes List of LA Times story about Ghost Buildings

· Fuller Lofts Archives [Curbed LA]