Earlier this month, a reader sent in the above photo of work at Ascent at Warner Center, and wondered whether Los Angeles-based developer KB Home had resumed work at on its 191-unit condominium project. You'll recall the Woodland Hills development went up in flames in March 2008 . A welder accidentally started the blaze "when a piece of molten metal fell onto tar paper on the story below," according to SignOnSanDiego.
What to know about KB Home: They issue short, amusing-to-read press statements in response to questions. In response to queries about what was going on with the stalled project back in Feb 2009: “While KB Home has temporarily suspended construction at Accent at Warner Center we remain optimistic about the future of the community. KB Home has been in business for over 50 years and will remain focused on building quality homes and providing superior customer service to all of our home owners in the Los Angeles area.”
Their response to our latest question about possible work. July 22: "KB Home has resumed construction at Accent at Warner Center and we anticipate an approximate grand opening in the summer of 2010. While we are excited about the progress we have made at the community, there are very few details available at this juncture.”
Meanwhile, according to the Los Angeles Business Journal, here is KB Home's latest quarterly earnings (June): They reported a net loss of $78.4 million compared with a loss of nearly $256 million from a year ago. Additionally, revenue fell 40% to nearly $385 million.
· Ghost Building: Ascent At Warner Center Going Nowhere [Curbed LA]