The Daily News follows up on that foreclosed property at 20600 Ventura Blvd, a parcel that was supposed to hold Irving, Texas-based JPI Development's Jefferson at Woodland Hills project. According to the paper, Bank of America foreclosed on the land in April 2007 for $49.5 million, and JPI owed $41.8 million at the time of the foreclosure. The paper has a photo of the sad-looking construction site. The CBRE listing agent for the project left the following comment on the site: "JPI was a good client of ours but have been hit hard by the downturn--all of us in real estate have. The guys who ran it are good guys." JPI is also behind the under-construction Jefferson at Hollywood complex (now boasting a web site). [Daily News]
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