West Side properties change hands at county auction
Feb 28, 2013 | 1793 views | 0 0 comments | 8 8 recommendations | email to a friend | print
Diablo Grande’ parent company bought a 52-acre parcel from a bankrupt home builder on Wednesday, Feb. 27, during an auction of properties owned by delinquent taxpayers.

The parcel was one of 30 properties at the Stanislaus County Board of Supervisors’ chambers in Modesto, where a total of $1.94 million was spent on all the land holdings.

Diablo Grande parent company World International bought the former RWHS Diablo Grande, Legends, LLC project for $555,700 with plans to develop it for housing.

“Now that the housing market is starting to show signs of improvement, the acquisition of the Legends lots is a further proof of (World International’s) commitment to the project and to its vision,” Carmen Kearney-Millan, chief financial officer for World International, stated in an email Wednesday.

In addition to paying the auction price, World International will need to pay $214,408 in Mello-Roos fees in repayment for bonds issued by the Western Hills Water District. Those bonds paid for building and acquiring various public facilities in Diablo Grande, Kearney-Millan said.

The property, which stands off of Upper Oak Flat Road next to Diablo Grande’s Legends golf course, has no infrastructure in place, and will be part of Diablo Grande’s master-planned community, she said.

Other West Side properties included a 26,153-square-foot vacant lot at 9460 Perrett Road in Diablo Grande that sold for $16,500 to Turlock resident Daniel Lee.

In addition, a 1.5-acre parcel on the southwest corner of Ward Avenue and Highway 33 was sold for $67,000 to Grewal RE Holdings LLC, headed by Modesto real estate agent Manmeet Grewal.

That parcel previously was owned by Empire Land LLC, an Ontario-based company that had planned to develop nearly 400 acres for housing and businesses in 2004 in north Patterson but scrapped those plans before declaring bankruptcy in 2008.

Grewal’s wife, Dr. Jas Grewal, owns Smile Shine Dental in the adjacent medical complex, and his holding company owns or co-owns the land that houses those medical offices and the land that houses nearby San Joaquin Equipment.

Five properties that failed to sell at the auction will be auctioned off next year, according to Jegan Raja, Stanislaus County’s assistant treasurer and tax collector. He noted that the event was standing-room only, with 84 registered bidders and several observers as well.

But while several buyers came away with good deals Wednesday, Raja said the county does not want to be in the auction business, and it gives delinquent taxpayers five years to repay their taxes before properties are sold.

“The county’s aim is not to sell the property,” Raja said.

• Contact Jonathan Partridge at 892-6187, ext. 26, or jonathan@pattersonirrigator.com.

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