Auburn Journal
AUBURN CA – Faced with a new financial paradigm since the housing bubble burst, the once-buoyant Placer Vineyards project gained concessions Tuesday from Placer County that allow the developer to no longer pay $275 million upfront in infrastructure costs. On Tuesday, supervisors unanimously approved modifications to the specific plan that allows the project to be phased in over time and infrastructure construction to no longer be fully constructed on the front end for the entire project. In the heady days preceding the 2008 housing-market crash in Placer County, the Placer Vineyards development group – a consortium of 22 different property owning entities – had lofty plans to construct a community of 14,132 residential units, 919 acres of park and open space and 274 acres of commercial development.