Los Angeles
Dec 1, 2023
Even with $120M in state grants, Shangri-La Industries can’t repay loans
LA firm owes $41M in defaulted debt tied to seven Project Homekey motel conversions
Project Homekey
Los Angeles
May 3, 2024
Shangri-La files for Chapter 11 on four motel-to-home conversions
LA developer accused by the state of misappropriating $114M in Project Homekey funds
Los Angeles
Jan 9, 2024
California state sues Shangri-La alleging fraud after Project Homekey defaults
All seven of the LA developer’s motel-residence conversions face foreclosure, suit says