Update: As of July 1, 2009, Peebles Corp. has defaulted on its 2008 property taxes. A search for one of the quarry parcels now includes the the notation:
One of the constants in the Peebles Corp's ownership of the Quarry property is the way the company's public statements constantly change. Another example of this recently appeared in the news.
A June 17, 2009 article by Julia Scott titled "Economy making it difficult to sell Pacifica quarry", quotes Peebles Corp Vice President Daniel Grimm:
According to a recent San Mateo Times article (or this article from the San Francisco Business Times), the Peebles Corporation has put the Quarry property up for sale. This wasn't very surprising, since according to R. Donahue Peebles' book The Peebles Principles, the company's loan is due:
Pacifica Riptide, the hot place to get information about activities in Pacifica, has a story about an invitation-only event with representatives of Peebles Corp to provide a progress update on the Quarry development project.
In Pacificans for Sustainable Development's public No on L statement we said that "Measure L makes our city vulnerable to this developer's lawsuits." History tends to repeat itself if people are not informed. Now Pacificans are doing their own research, resulting in many concerned references to his litigious history in articles and letters to the editor.
The current total spending by the Peebles-funded "Yes on L" campaign through 10/21/06 is $1,310,384.78 according to the campaign's official election filing report (warning: large 3MB Adobe Acrobat PDF file).
Peebles made a small fortune on the Bath Club, by exploiting a loophole that let him get the property rezoned.
"The owners were asking for $25 million to $30 million, but no one was willing to pay because it wasn't going to make money unless it got rezoned -- the building couldn't be taller than 40 feet. The rezoning would take two years. I found a loophole that would allow us to go up to 200 feet in height and offered $10 million, contingent on the rezoning.
After the Bath Club got rezoned, a brokerage firm offered me $42 million for the property."
According to the Miami Herald, R. Donahue Peebles is writing a book called "The Peebles Principle". The book is a compliation of "first person lessons he has learned". Some of those key "lessons" include:
The owner of the Rockaway Beach Quarry, R. Donahue Peebles, was profiled by The San Francisco Bay Area Guardian issue of 8/29/06. Their profile of his meteoric ascent in the real estate business in D.C. and Florida stated, "He earned a reputation for resorting to multimillion-dollar litigation when those relationships went bad." But did Mr. Peebles mellow after arriving in California? Apparently not. Mr. Peebles' partnership filed suit against the California State Mining and Geology Board in March 2006, a month after being fined a tenth of the maximum fine for failure to file an acceptable assurance instrument for the reclamation of the Quarry. (Rockaway Beach Ltd. v. SMBG et al.) At the "charrette" meetings I attended in May, Mr. Peebles described himself as completely cooperative with the State regarding reclamation of the formerly quarried property. Curiously, he and his agents made no mention of the fact that aspects of the reclamation matter were in litigation.