Protections Will Weaken for Prospective Davis Senior Buyers
by Alan Pryor
The Bretton Wood developer, David Taormino, is attempting to pull another bait and switch on Davis seniors by completely gutting the campaign promises he made to Davis voters committing to sell 90% of homes in the new project to Davis-based buyers. The long-promised Davis-Based Buyers Program was intended to ensure that 90% of all new homes sold at the new development were to Davis seniors thereby freeing up their existing large homes for new families to come to Davis.
But make no mistake about it, this newly proposed watered-down plan has so many loopholes in it that it will open the floodgates to advertising and sales to well-heeled Bay Area expatriates flush with cash from sales of their own inflated homes. Indeed, this will probably drive up prices for new homes at the project so high that it will functionally exclude Davis seniors from participating - much like we saw in the Cannery project where the majority of new sales were to buyers from outside Davis.