Signature Properties

Signature Properties

Signature Properties is a real estate developer based in Pleasanton, California in the eastern San Francisco Bay Area that constructs housing in the United States, primarily in the state of California. [http://www.sigprop.com/about/ About] , SP website, access date August 10, 2008] The company president is Mike Gahielmetti. [http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2008/08/08/BUB31272KN.DTL S.F. condominium sales strong in recent months] , by James Temple, San Francisco Chronicle, August 8, 2008, access date August 30, 2008]

History

Signature Properties was founded in 1983. The firm has built 50 communities totaling 5,000 housing units over the 15-year period between 1983 and 2008. The company's projects are centered in Northern California, especially in the San Francisco Bay Area and Sacramento Region.

The company was involved in a 4 million dollar settlement with embattled Arkansas developer Ben Israel. [http://nwanews.com/nwat/News/68190/ Israel, investors hit by property slowdown] , by Scott F. Davis, Northwest Arkansas Times, August 17, 2008 access date August 31, 2008]

The Pleasanton, California school district has sued Signature Properties and another company for not funding the building of an elementary school in the Ruby Hills district. [http://www.contracostatimes.com/education/ci_10206285 No decision yet on appealing Neal Elementary case in Pleasanton] , by Eric Louie, Contra Costa Times-Valley Times, August 14, 2008, access date August 30, 2008] A preliminary judicial judgment by the Alameda County Superior Court [http://www.pleasantonweekly.com/news/show_story.php?id=796 District 'not there yet' in decision to appeal Neal Elementary case ] , by Emily West, Pleasanton Weekly, August 15, 2008, access date August 31, 2008] has ruled in the companies' favor deciding that Signature et al are not obligated to build it. A decision on whether or not to appeal has yet to be made and all parties have agreed to extend the statute of limitations on making such an appeal while negotiating in arbitration.

Due to the sub prime mortgage crisis some of the company's projects are not selling very well, such as the Candlestick Cove development adjacent to Candlestick Park in the far southern Bayview District in San Francisco.

Signature also helps to sell properties and will even lease them while they are for sale so that the owners can make extra monies. [http://www.9news.com/life/entertainment/article.aspx?storyid=97806&catid=348 Residents hoping for quick cash with DNC rentals] , by Jamie Kim, 9News.com (NBC affiliate), August 18, 2008, access date August 31, 2008]

References

External links

* [http://www.sigprop.com/ Official website]


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