Developer Buys 2,156 Acres for $31 Million
From Times Wire Reports
A Southern California developer has paid $31 million for a golf course and raw pastureland near Antioch.
Richland Communities outbid SunCal Companies and purchased the 2,156-acre Roddy Ranch on Monday.
Two years ago, owners Jack Roddy and Wayne Pierce filed for Chapter 11 bankruptcy protection when they failed to win approval to build a 1,000-home golf course community. The men intended to repay $50 million in loans with home-sale proceeds that never materialized.