More bad news for Bisno!

“Bob Bisno, the developer who polarized San Pedro with his plans for a 1,950-unit condo complex, has been ousted from the project’s development team.  A division of Credit Suisse bank, Bisno’s top investor, has assumed control of the controversial Ponte Vista project, the development team announced Friday,” according to the Ponte Vista Blog.

The Ponte Vista development, slated for 61.5 acres of former Navy land, has appeared to be in “serious trouble since last month, when the Los Angeles Planning Department recommended that it be rejected.  Dispensing with Bisno’s arguments, the planning staff found that no more than 1,200 condos should be built on the site, and perhaps as few as 775. Bisno initially seemed ready to fight that ruling at the Planning Commission this week, but later the developers asked to postpone the hearing to February,” according to the Daily Breeze.

Bisno tried to cram too many condos into this development, angering the local residents, who knew that this project would create ruinous traffic in their area.

This is the SAME THING Bisno is trying to do in north Santa Ana, where he wants to build a 31 story luxury condo tower.  That project is pending approval by the Santa Ana Planning Commission.

Bisno recently quit a big project that would have remade the downtown Baldwin Park area – by abusing eminent domain.  And he has even had to put his $29 million home in Beverly Hills up for sale.  Things are not looking good for the man who funded Santa Ana’s controversial Measure D – which allowed his amiga, Councilwoman Claudia Alvarez, to serve one more term on the Council.  She is now in line to once more be appointed Mayor Pro Tem at the next Santa Ana City Council meeting.  And we are stuck with her for four more years – thanks to Bisno.

Personally, I hope the guy ends up bankrupt!  He appears to be headed in that direction…

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"Admin" is just editors Vern Nelson, Greg Diamond, or Ryan Cantor sharing something that they mostly didn't write themselves, but think you should see. Before December 2010, "Admin" may have been former blog owner Art Pedroza.