Not my riff, but from the Puppet Man at the Cannery in SF a few decades ago. Does anyone else remember him as fondly as I do?
SOA (Somersett Owners Association) just file a $360,000 permit to basically reinforce the rock retaining wall around 1760 Timaru. The walls failed during this sever winter, and no one seems to be disputing that SOA is on the hook for the repairs (how many similar conditions exist?). I know of at least 8 other Toll Brothers properties built over double rock retaining walls that have failed, and Toll is footing the $100,000+ per lot to stabilize the foundations. But you have to sue them first. Think 2340 Trail Ridge is a deal? Do some research!
There are numerous locations where the rock retaining walls failed around the Somersett Golf and County Club imperiling the homes above. SGCC has a 4 year warranty period on these walls, so the cost of repairs may well be the final nail driving the SGCC into BK, even before their clubhouse opens in “2016”. Their financials weren’t too sunny before all this.
What is Plan B?