Real estate magnates collapse - Time to fill the vacuum in Elk Grove

How the mighty have fallen.

Since the 2008 credit crisis and ensuing real estate collapse, tales of woe are unfortunately abundant. While much of the media attention has been focused on the residential collapse, big time wheeler-dealer real estate magnates have fallen on hard time, and in one case in jail.

Last week it was learned that former KOBRA owner and American success story Abe Alizadeh has been arrested and jailed in Placer County on charges that he purposely refused to pay $7 million in payroll and sales taxes to the State of California.

Alizadeh's KOBRA, which operated Jack in the Box restaurants, TGIF's and real estate developers collapsed in 2008 like a house of cards.

Closer to home, former high-flying (literally because he had his own private jet) residential real estate developer and Pat Hume patron Christo Bardis recently appeared in front of the Elk Grove City Council hat-in-hand. Bardis was essential asking for a refund on one of his collapsed real estate developments here in Elk Grove.

Literally, Bardis, with his former partner John Reynen in the wings, was asking city hall for a bail-out. Enough already! 

So what does this mean to the people and city of Elk Grove?

With their wings now clipped, developers don't have the money to throw around like they did in the glory years. With no money to throw around, a vacuum of influence has been empty and we all know nature abhors a vacuum.

While there have been a number of individuals and a few groups who have bravely spoken up demanding smart sustainable planning of our city, they were often marginalized during the boom years when the city was awash in developer money, but now those time are gone. And you know what, these people are still standing up at council meetings and letting their voice be heard and more and more, at least three of the sitting council members are listening.

But they can't do it alone.

Now is the time for people who care what Elk Grove develops into over the next 10 years to stand up and let the your voice be heard. With developers influenced stymied, there might never be a better opportunty to mold our future.