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Two Rosedale tracts default
(Bakersfield Californian, The (KRT) Via Acquire Media NewsEdge) Aug. 23--Two residential tracts in Rosedale defaulted on more than $29.5 million worth of loans Friday, county records show.
The abandoned construction sites are both on the north side of Meacham Road, near Heath Road.
One is the southern half of the Tallus Ranch development at the northeast intersection of Heath and Meacham Road.
There, Modesto developer John Carter Williams defaulted on a $19.5 million loan from Colonial Bank N.A. made in June 2005.
As of Thursday, the developer was behind on more than $10.5 million worth of payments, the default filing showed.
The second site is slightly west, at the northeast corner of Meacham and Wegis Avenue. The 116-acre property is bounded by Hageman Road on the north.
There, Williams defaulted on a $10.3 million construction loan from Colonial Bank made in March 2006. More than $3.7 million was in arrears as of Thursday.
Both loans were made to Williams through his company, J.C. Williams Co.
A message left on Williams' voicemail Friday afternoon at his Modesto firm, Paramont Homes Inc., was not returned. The company's outgoing message said the office was closed Fridays.
The northern half of the 160-acreTallus Ranch site, which Williams sold to another developer in 2005, is not in default.
There, Meritage Homes is building its Saddleback neighborhoods.
Nevertheless, liens and lawsuits from construction companies and subcontractors alleging nonpayment have been filed in recent months against J.C. Williams Co., Meritage, and the owner of much of the northern half of Tallus Ranch, SHP Hageman LLC. The limited liability company is managed by Dennis Sheya of Clarksburg, a small town southwest of Sacramento, through his Sheya Housing Partners LLC, signature pages show.
STREETS, WEEDS
Both sites appeared abandoned Friday afternoon.
Weeds grew large inside the single wall enclosing Tallus Ranch. In the defaulted southern half, paved roads, utilities, fire hydrants and some street signs -- Amore Place, Gallardo Way -- stood among more than 80 acres of dirt.
The northern half also shows signs of neglect. The eastern entrance on Hageman, where homes have not yet started going up, was choked by chest-high tumbleweeds caught against a wrought iron entry gate.
The Wegis project site had curbs and gutters -- with large portions broken -- street lamps, utilities, sumps and hydrants, but no roads.
To see more of The Bakersfield Californian, or to subscribe to the newspaper, go to http://www.bakersfield.com.
Copyright (c) 2008, The Bakersfield Californian
Distributed by McClatchy-Tribune Information Services.
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