New owners will take over a bankrupt Clovis subdivision that was half built when its original developer abandoned it.
The two tracts of Patriot Homes are now owned by Union Community Partners, an investment group from San Jose.
The Patriot Homes subdivision at the southwest corner of Locan and Shaw avenues went into bankruptcy earlier this year with about 57 lots remaining, some with homes on them that were partially built and others nearly ready to be occupied. Patriot Homes consists of two tracts and about 120 lots total.
"It's now likely that Union Community Partners will follow through and build out, and the residents will get their lights fixed and their roads built out," said Steve White, Clovis city engineer.
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Clovis officials say the company will have to build about $1.2 million worth of streets, lighting and other improvements on the neighboring tracts.
White said the city has spent tens of thousands of dollars to get the project to this point.
Steve Rosa, who lives in one of the Patriot tracts, expressed optimism that his neighborhood can be built out and "come closer to the vision that all of the homeowners bought into."
Added Rosa in an e-mail: "Hopefully, [Union Community Partners] will be able to deliver on their promises and the city of Clovis will be vigilant in their holding UCP to deadlines and their responsibility of completing all of the improvements."
The city has filed claims against companies that backed bonds ensuring the improvements would be completed but weren't.
Two weeks ago, the Clovis City Council approved an agreement with Union Community Partners to take over the project.
Under their agreement, the city and Union Community Partners will split proceeds from the companies before Union Community Partners completes the work.