Judicial Foreclosure!

The scales-of-justicerules have changed, the 1st mortgage officially filed a lawsuit against the owners (and all lien holders) of the Burbank Theater, Santa Clara County Superior Court Case @115CV284426.

A Judicial Foreclosure with all it’s benefits and problems will be the way that the Burbank Theater’s future will be decided.  The first “Case Management Conference” with Superior Court happened in December 2015, and the judge ordered all defendants be served.

The good part of Judicial Foreclosure process means the owners will likely lose possession of the building very soon, but legal ownership and other details of the judicial foreclosure process implies that this building may stay in it’s current form for another 2 years.

4 thoughts on “Judicial Foreclosure!

  1. Mark Storga

    Once this property is on the block for sale, I would like to purchase it and developed it into a full time music venue in the way of The Warfield or The Fillmore in San Francisco. If possible, I actually would like the whole block and build a 3 level parking structure with an adjoining recording studio for young local musicians. This would be a renovation with all amenities staying intact as much as possible. This is something that our great South Bay area has been without. It will succeed!

    Reply
  2. burbanktheater Post author

    Sounds like your plans are rather close to ours! It would be great to have a real Art Center – that is not the ghost town called Downtown San Jose.

    Reply
  3. Joshua

    Mark,

    I live very to theater. I’m wondering, are the things you want to do actual plans (true) or more like “if i had the money, etc, I’d do this”? I’m just wondering because I think it would be great to do what you said. Are they daydreams or realistic goals? I really hope to see the Bascom W San Carlos area rejuvenated. I cannot find tal talk plans do anything though either at the county or city. Thanks

    Reply
  4. burbanktheater Post author

    Joshua,

    I did have a chat with Mark, I personally think his ideas are “realistic”. Our own plans I would also classify as “realistic” but in general the word “realistic” doesn’t make Banks or general Investors very excited. So not impossible, but not easy either… if Burbank is to turn into something it will take the right type of private (angel) investor who believes in the vision and has enough $$ to get things started.

    Reply

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