Voice of OC (https://voiceofoc.org/tag/cathay-general-bancorp/)
The bank financing an unfinished development, once known as the Garden Grove Galleria project, is suing the property owner for more than $4 million over allegations of fraud and breach of contract.
The nine-story steel eyesore, which has been under threat of demolition for some time, will stay erect until at least the end of May after council members decided to postpose a demolition vote.
As the relationship between the private investors who are trying save Garden Grove Galleria project continues to sour, the demolition of the nine-story, rusted steel eyesore is inching closer to reality.