Saggio Hills Development Still Stalled

Although the annual report to the City Council of Healdsburg's Saggio Hills project was on the agenda last night, only a letter from developer Robert S. Green was delivered, not an in-person report.

According to the Santa Rosa Press Democrat, however, the letter did not contain much encouraging news about the $310 million resort hotel and luxury home development on the northern border of Healdsburg. Lending from financial institutions in a tight economy have been a major factor in stalling the development.

In his letter dated March 18, Green was equally vague about timing for both the residential and hotel segments of Saggio Hills.

Although the number of high-priced custom home starts over the past year in Sonoma County has been encouraging, he said, “we cannot yet point to a market that will reflect the kind of steady and continuous absorption of our 70 units over a reasonable period of development.”

The expansive development has been in the works at least since 2005, when Sonoma Luxury Resort LLC, paid $16.8 million  for the 259 acres.

Although approved by the City of Healdsburg in 2008, a series of legal actions over its EIS arrested its construction, then the economic downturn further delayed its financing.

Read the complete reportage on the Press Democrat.