Wang will continue to own 3.7 acre property.
Written by MATTHEW WONG / Published October 1, 2010 (ONLINE ONLY)
Developer Randy Wang and the city of Temple City have agreed to end a legal dispute over the Piazza at Temple City mixed-use project.
The Pasadena Star News on Thursday reported that the pending agreement voids any deals related to the Piazza development. The newspaper was also the first to report in December that settlement talks were occurring between the two parties.
According to Patrick Duffy, Wang’s attorney, the agreement basically turns back the clock to 2005.
“What happens is we all pretend it never happened,” he said on February 24, 2010.
Meanwhile, the developer will still own the property on the corner of Las Tunas Drive and Rosemead Boulevard.
In 2008, Wang countersued the city of Temple City alleging city officials of bribery.
Since then, one former councilman has resigned and one was denied re-election. Temple City Councilwoman Judy Wong is the third councilperson involved in court proceedings related to the Piazza project.
Had the district attorney not filed charges against Wong and former Temple City Mayor Cathé Wilson, the city may have been able to take ownership of the property for $5 million.
The developer previously faced a deadline of August 2009 to complete the project.
Now, the property lies vacant except for overgrown weeds.
Wang has submitted a new plan that significantly scales down his once promising development. The newest proposal calls for a single-story, all commercial development.
Whether the new project gets developed in the midst of an economic downtown is uncertain, but what is more certain is that residents are unhappy.