Shipka/Enterprise lose condo projects

The original developer of Palermo Palm Springs had to give up some of their Chicago properties. An article from a Chicago paper about the Shipkas, owners of Enterprise: "In a bold bet on the recovery of the downtown condominium market, a New York developer has taken over nearly 500 unsold units in three failed South Loop towers, the biggest distressed condo deal since the crash. Related Cos. aims to jump-start sales at the high-rises through a joint venture it recently formed with the lenders that financed them, part of the massive Central Station development at the south end of Grant Park. The projects have languished as the condo market has struggled to pull out of its funk, but Related executives are convinced that's about to change. “We're long this market and believers in it,” says Curt Bailey, president of the firm's Chicago division, Related Midwest. After six years of declining condo sales, numerous developer foreclosures and a big shift toward rental apartments, it takes conviction—some might say a leap of faith—to go long on condos today. Housing experts have called the bottom again and again, only to see condo sales fall further. Yet if Related is right, the deal will burnish the firm's reputation in Chicago, where it so far has avoided the missteps that have crushed some rivals. With a construction pipeline that includes two 500-unit downtown apartment towers, Related has established itself as one of the busiest developers of the post-bubble era. In the South Loop, the firm plans to reposition the three projects, built by a joint venture of local developers Gerald Fogelson and Ronald Shipka Sr. and Cleveland-based Forest City Enterprises Inc. Unable to pay back their construction loans, the developers agreed to a “deed-in-lieu of foreclosure,” voluntarily handing the unsold condos over to a lender group led by Bank of America Corp., which brought in Related as a partner to finish the projects.The biggest development is One Museum Park West, a 54-story tower at the foot of Grant Park on South Prairie Avenue, with 238 unsold condos. The developers also gave up 98 unsold condos in 1600 Museum Park and 157 units in Museum Park Place South, nearby in the South Loop. Shipka and Fogelson and Forest City did not return phone calls. Given the strength of the apartment market, other lenders and developers have opted to work around the condo slump by renting out unsold units. But that option didn't make sense at the three South Loop buildings, where so many units already are occupied by owners, Mr. Bailey says. Having owners and renters living in the same building can create complications and conflict." Miss Penny Lane says: With this news she's i the loop too.

About blogger rights

Positively Palermo was asked why it has that bloggers rights illustration on this site. Part of the reason goes back to a couple of years when a person purporting to represent the HOA board said the board would be suing this site and hiring "Internet forensic experts" and that certain reader postings must be removed. We have yet not published the e-mails. Miss Penny Lane says: Her real outlet is gardening not blogging but she tries to spread cheer in both.

Palm Springs to Canada

Positively Palermo received this email from a resident on behalf of the Animal Samaritans shelter: "Hello Fosters!!YES…Canadian Seven 3!!!!! Once again we are pulling seven lucky small dogs from the county shelter and sending them to Canada!!! These lucky little ones will be pulled around July 9th or 10th and will fly to Canada on August 22nd. SO…this is where you all come in! We need to find fosters for all of them between July 10th and August 22nd. These foster pups will require a little more work as they will need to be brought to the clinic at least twice during their stay to be spayed/neutered and to have all their shots. Please let me know if you are ready and/or willing to take one or two of these little ones that are headed up north!!! 760-396-7313 THANK YOU!!!! Leslie Cyphers Animal Samaritans SPCA." Miss Penny Lane says: She wouldn't mind a trip to Canada with this triple-digit weather.

About the closing of Indian Canyon Drive

The news has a report on the closing of Indian Canyon Drive last night: "There's no levee. There was no flood. In fact, as Coachella Valley Water District officials stressed repeatedly today, Tuesday night's overflow at one of their replenishment ponds in northern Palm Springs means the valley is getting more water than it's using. And the district's backup systems are working just the way they're supposed to. "What actually happened was something that hasn't happened in two decades," said Robert Keeran, a spokesman for the district, during a Wednesday tour of the ponds, where water from the Colorado River percolates, or seeps, into the valley's aquifer. All 19 ponds were filled to capacity, so water from the last pond started overflowing into a retention area where it could also seep into the ground, he said. But because an overflow hadn’t happened in so long, Keeran said, it’s understandable that a Mission Springs Water District employee driving down Indian Canyon Drive might have thought the overflow represented a danger to the public. His call to the Palm Springs Police Department triggered the flood alert and resulting closure of Indian Canyon on Tuesday night. Could some future overflow reach Indian Canyon and cause some flooding? “I won’t say it can’t happen,” Keeran said. “The likelihood is very small, almost nonexistent.” You might remember that in January of 2011 there also was a closing like this. Miss Penny Lane says: She's lately been flooded with wonderful memories of good times at Palermo.

Signs on the mailboxes

Interesting notice was taped to the mailboxes at Palermo Palm Springs this week, saying that the bank's rental company will be holding sessions in the clubhouse every week for tenants who have work orders or other problems. It appears that this must be in response to the HOA asking for increased oversight, a point discussed at a prior board meeting and said at that meeting to be in Palermo's agreement with the bank over the future of the old Enterprise units/land. More progress. Miss Penny Lane says: She was hoping the sign was about a pool party to help her cool offing this heat.

Some weather

It was 119 degrees on Tuesday. It's been muggy, and now rain? The news reports: "Clouds are hugging the peak of Mount San Jacinto this morning, but there’s plenty of moisture near the valley floor as well. Light rain and 70 percent relative humidity were reported at Palm Springs International Airport just before 6 a.m. The National Weather Service predicts that light showers and some thunderstorms will move in from the east this morning, and the chance of rain isn’t moving out anytime soon." Miss Penny Lane says: She awoke to find a little puddle in the yard so did it rain and she missed it?

Washer/dryer for sale

Positively Palermo received this: "Penny. I wish I needed this one but I don't but there's a poster up at the club house about a wisher-dryer set for sell. I love good deals." Miss Penny Lane says: She's a dry cleaning kind of gal.

Parking in the fire lane on Sunburst

Positively Palermo received this: "Miss Penny, It seems we have a new temporary party house on Sunburst, with car in the street (fire lane). I left word with management this eve but nothing has been done. Please help!" Miss Penny Lane says: She hopes it is resolved.

Trash/recycling day is today

A reminder that trash and recycling is today, not yesterday, because of the July 4 holiday. Miss Penny Lane says: She's ready for her weekend.

Happy 4th, Palermo

May everyone have a fun and safe July 4th at Palermo Palm Springs. Miss Penny Lane says: Life sparkles at Palermo.

Happy Canada Day

You may have heard Palermo being called Canada South or Little Canada because of the number of Canadian owners. Today's it is Canada Day up there. Miss Penny Lane says: She plans to celebrate with a big hearty breakfast.

Dumpster blues

Positively Palermo received this: "An open letter to those who have moved in and moved out or bought big new TV sets: You have for sometime filled up the garbage bins on Sunburst and littered the area with huge cardboard boxes to the point that the garage is on the ground and the trash guys can't take it all. One person has just thrown down boxes and strafoam for their TV and now the wind has kicked up all over the place. Another person moving out has just thrown down a baby gate on the ground. Do you really have no concern for your neighbors or the environment?" Miss Penny Lane says: She's moved to tears when she hears such a thing.

Sprinkler repair company?

Positively Palermo received this request: "Hi Penny - I need to replace the manifold on my sprinkler system. It is leaking really bad. The pvc has cracks in it from the sun. Can anyone recommend a sprinkler repair company they have used in Palermo that I can call to have it repaired? Thx." Miss Penny Lane says: She's of no help but maybe someone else can be.

Hot hot hot

It's going to get hotter. The news has this report: "Think it's hot now? Just wait until 2041 rolls around. Palm Springs is set to warm more dramatically than most of the rest of Southern California in the next 40 years or so, UCLA researchers found. The average annual temperature could rise 5.15 degrees by midcentury, defined by the study as 2041-2060. “It's certainly, I think, the kind of change that is noticeable,” said Alex Hall, the UCLA professor who led the study. If the warm-up isn't accompanied by any more rainfall — which Hall's team also plans to study — desert species would certainly feel the heat, desert ecologist Jim Cornett said. “That would stress a lot of our native desert plants, and I would hazard a guess that it would probably result in the loss of some of our larger cactus species,” he said. As plants go, so too would some animals. “They can go underground (and) escape, certainly, even a 5-degree temperature difference,” Cornett said. “But if you go underground and you come back on the ground and your favorite food plant or nesting site is gone, it doesn't make any difference.” Miss Penny Lane says: She's preparing by by a few more ice cube trays from the dollar store.

What is Palermo's neighborhood name?

Does the area around Palermo Palm Springs have a neighborhood name? Is Palermo part of the Racquet Club neighborhood to the south. The news has an article on one neighborhood nearby: "The Ruth Hardy Park neighborhood in Palm Springs will be renamed Movie Colony East Saturday to mark its entertainment industry roots. New signs will be unveiled at a ceremony at the corner of East El Alameda and Paseo De Anza. The area encompasses more than 700 homes, neighborhood organization president Tim Sigle said Monday. The northern portion of the area was the site of the El Mirador Hotel golf course in the 1930s, and is now homes originally designed as second homes and vacation hideouts for celebrities. Residents included Frank Sinatra, Bob Hope, Steve Lawrence and Eydie Gorme, Bing Crosby, Carmen Miranda, Keely Smith and Hedy Lamarr. The original tracts were merged with a sister neighborhood to the west to become the Movie Colony. The name was later changed to Ruth Hardy Park after the adjacent city park. On May 29, residents “once again decided to accentuate the area's Hollywood roots by renaming the neighborhood Movie Colony East,” Sigle said. Signs were designed and financed by the area's residents and groups of neighbors. The first of 15 street signs was recently installed." Miss Penny Lane says: She think regardless of the name, Palermo is the friendliest neighborhood in town.

Smoke in the sky on Saturday

The news has the story about the smoke that could be seen yesterday from Palermo: "Palm Springs firefighters successfully put out a half-acre brush fire that started Saturday afternoon in Chino Canyon just north of Palm Springs. The fire, which was west of Highway 111, created smoke that was visible across Palm Springs and as far away as Vista Chino and Date Palm Drive in Cathedral City. Firefighters were called to the area about 4 p.m. and had the fire contained just after 4:30 p.m. The fire was in an undeveloped desert area and no buildings were threatened." Miss Penny Lane says: She's on fire today to get some housekeeping brushed out of the way.

Happy Father's Day, Palermo

Happy Father's Day to all at Palermo Palm Springs and beyond. Miss Penny Lane says: She will celebrate by having a granddaddy of breakfast.

Real estate news

Thee hasn't been much real estate news at Palermo Palm Springs of law. Two homes on Penny Lane and on Melody Lane have been in short sales or foreclosures but it appears they may be off the market now, as the signs are gone. News from the paper: The number of Riverside County homes that fell into foreclosure last month jumped 14 percent, pointing to "a bumpy ride down to the bottom of this foreclosure cycle," a real estate tracking firm reported today. A total of 4,406 mortgage default notices, auction sale notices and bank repossessions were recorded countywide in May, translating to 1 in 182 households in some stage of foreclosure, according to Irvine-based RealtyTrac. The county ranked No. 5 in foreclosures statewide. The number of filings was 14 percent more than in April but roughly 6 percent below the level of a year ago, data showed." Miss Penny Lane says: The only thing she's in the market for is a new floatie.

Positively Palermo inspires new community blog

This was posted yesterday on Positively Palermo: "I loved your blog so much that when I lived in Palermo for 2 years I read it all the time. *(I was renting then) I was able to purchase a house in Escena and created a positive blog about our community here. Please forgive the similarities. I hope to bring a community blog within our development like you do here. http://positivelyescena.blogspot.com/ " Miss Penny Lane says: She's positively honored.

Positively Palermo has been asked to provide the floor plans for the A model loft residence. There are 33 Model A townhome units. The A units are two stories, with 20-foot ceilings and walls of glass windows in the front of the house. They have two bedrooms, an office loft, 2.5 baths, upstairs sun deck, private back yard and one-car garage. They are the largest of all the units at Palermo, with 1,375 square feet. The A models have a unique floor plan that includes high ceilings, loft, and the kitchen area with a huge island in the center of the first floor. A reminder that all seven of Palermo's floor plans (A-B-C-D-E-F and G) are on this site. Get to them by clicking the link on the left side of this page. Miss Penny Lane says: A is for awesome.

Aerial map

The newspaper has had stories about an arrest in "the pipe case." There is an interesting aerial map that shows where the devices were found and even has an overhead view of Palermo. This is the link. Miss Penny Lane says: She's hopping off to the ihop to waffles on this Sunday morning.

A new name for Enterprise Way?

You may have seen the discussion by residents about whether Enterprise Way, named after Palermo's original developer, should be renamed. Enterprise Way is the main entrance to Palermo, off Indian Canyon Drive. The clubhouse and a limited number of residences have Enterprise Way addresses, but when Phase 2 is completed, Enterprise Way will run all the way to San Rafael and have many more units. What do you think? Should Enterprise Way get a new name and shed the past, or do you like it? What would be some other choices? Miss Penny Lane says: She thinks the best name for a Palermo street is already taken.

Primary day

It's Election Day. For citizens of Palermo Palm Springs, you go to vote at the James O. Jessie Desert Highland Unity Center at 480 W. Tramview Road, according to the elections office. To get there, go up Indian Canyon Drive and take a left. Miss Penny Lane says: She likes to exercise her right to vote and does it just as much as she gets on a treadmill.