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Big Land Foreclosure in Woodland Hills, Development Awaits

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A project called the Jefferson at Woodland Hills, a proposed project on 8.3 acres of fully-entitled land, can be yours. While there's no price listed, here's what the CBRE listing notes: "The current entitlements call for a 340-unit residential condominium development with nine commercial condominiums, utilizing a “podium” parking design. If investors don’t deem this plan as the highest and best use in the current market, there are a number of variations that conform to the current entitlements." According to the flier (download the PDF here), the bank (which is Bank of America, according to Property Shark), is looking for a couple of scenarios: An outright cash purchase, a joint venture purchase, or a standard purchase with with "backside participation from the bank." According to a 2005 San Fernando Valley Business Journal article, the land via a partnership of local developers D2 and Troxler, who planned the condo project, but it's not clear if the land was sold by them at a later date. UPDATE: Apparently the land was owned by developer JPI, also behind the proposed Jefferson at Hollywood project. A pamphlet from the company references the 340-unit development.
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