Warmington Desert Projects Total More Than $100 Million
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Warmington Capital Corp., Costa Mesa, has announced that it is involved in various phases of development of projects with a total value of more than $100 million in four desert cities.
The projects, in Rancho Mirage, Yucca Valley, Palm Springs and Cathedral City, will be developed by Warmington/Stahl Development Co., a recently formed partnership of Warmington Capital and L. C. Stahl Construction.
Largest of the projects is in Rancho Mirage, a $50-million redevelopment project in cooperation with the city’s redevelopment agency. Known as the Triangle Project, it will include two hotels totaling 400 rooms; 77,600 square feet of commercial, retail and office space; 19,000 square feet of restaurant space in three facilities, and a subterranean parking structure.
Warmington Capital has acquired controlling interest in Build-Tek Corp. of Palm Desert, which had under way planning and development work on more than $6 million worth of apartments in Palm Springs, representing 192 units.
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