Thank you for sharing!

Your article was successfully shared with the contacts you provided.

ESCONDIDO, CA-A local developer has proposed building a 24-Hour Fitness gym in his La Terraza shopping center near Interstate 15.

Tycoon Development, headed by Solomon Levy, asked the City Council to give a developer more time to pay nearly $150,000 in deferred building fees. The council agreed.

Levy must pay the city one-third of the deferred fees along with fees for a two-story office building planned near the gym. The office building is scheduled for completion in about a year. He must pay the remaining fees for the gym in installments before July 2004.

Levy has tried to get financing for a Hilton Garden Inn on the same location on La Terraza Boulevard. He was unsuccessful, telling the city he was unable to pay the deferred fees and also build the office building. The council approved the office project in June.

City officials say they hold Levy will sell the hotel property, allowing another developer to build the hotel. They also want Levy to pay the 24-Hour Fitness fees in full much earlier.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.