CHINO - Development at the city's second largest new housing community has slowed to a crawl, with its developer deciding not to move forward with the next phase of development because of the recession, city officials and the developer said.
Officials had earlier estimated College Park to be complete in about a decade, but the recession and housing downturn have stalled movement on anticipated completion time frames by about five years or however long the recession lasts, according to Chuck Coe, Chino's community development director.
Planners anticipate 2,200 homes when College Park is completed, though only 311 of the homes have been built since the project began in 2006. The next phase of development will not continue until the economy improves, Coe said...
Read the story... | Source: Daily Bulletin | Posted: 3/26/09
