Ghost Buildings=Providing jobs for 24-hour security guards
Local developer Intracorp has been picked to finish work on the ghost building known as Glencoe Lofts in Marina Del Rey, a Corus Bank casualty. More than two years ago, construction workers walked off this 100-unit building, which is now owned by ST Residential, the Starwood-led entity that purchased the assets of Corus. As for the name of this Marina Del Rey project, ST Residential has reached into the development grab-bag of names and pulled out the "Gallery Lofts" chip. Yes, this one will be re-named Gallery Lofts. According to the release, sales are scheduled to begin in March 2011. This newly finished project will join the under-construction Redwood Flats in the neighborhood.
· Intracorp and ST Residential Join Forces to Market Loft Communities in San Diego and Marina Del Rey [Earth Times]
· Bank Owned: Glencoe Lofts in Marina Del Rey [Curbed LA]