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Major Housing Developer Pulls Out Of California

A major housing developer has announced that it will no longer pursue new projects in California. Atlanta-based Wood Partners, one of the country’s largest real estate developers, did not provide a reason for its withdrawal, but said it would complete projects already under way in the state. The company said it was “committed to the
bySarah Blake
26 July 2024
1 minute read
Major Housing Developer Pulls Out Of California
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A major housing developer has announced that it will no longer pursue new projects in California.

Atlanta-based Wood Partners, one of the country’s largest real estate developers, did not provide a reason for its withdrawal, but said it would complete projects already under way in the state.

The company said it was “committed to the execution of the construction, lease-up and stabilization of our projects in these impacted markets while continuing to be good fiduciaries for our capital partners,” according to a statement from CEO Joe Keough.

This is a breaking story. More to follow.

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Newsweek is committed to challenging conventional wisdom and finding connections in the search for common ground.

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Sarah Blake
Hi, I'm Sarah Blake, an investigative journalist with a passion for uncovering the truth. With over a decade of experience in journalism, I've dedicated my career to bringing hidden stories to light and holding the powerful accountable. My work has taken me across the country, from small towns to major cities, and I pride myself on my relentless pursuit of facts and justice.
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