Los Angeles Times
January 16, 2008
Disneyland-area project scrapped
A developer who had proposed a large hotel-condominium complex in the resort district confirmed Tuesday that he is pulling out of the project because of a weak housing and hotel market and the pressure of a looming Disney-backed ballot initiative.
"It just doesn't make economic sense for us to continue," said Derek Baak, vice president of West Millennium Homes, whose company had spent close to $2 million on the project.
The plan for a 105-room boutique hotel and 191 condominiums was scheduled to go before the Planning Commission next week. Baak's proposal was one of at least two residential projects in the Resort District that would face a citywide vote if an anti-housing initiative passed in June.