Mission Valley Village HOA v. Archstone (Class Action)
Jun 01, 2011OUTCOME: Settlement estimated at over $7 million, with the defendant ordered to pay all attorneys fees and costs
The Mission Valley Village Mobilehome Park was a senior-citizen retirement community located in the Mission Gorge area in San Diego. After Archstone, a Fortune 500 company that is renowned nationwide f ... or developing apartment complexes, bought the property and took over operations in 2007, Archstone announced its plan to close the Park and build luxury condominiums. But rather than close the Park and pay the legally-required relocation benefits, Archstone indefinitely put the park closure on hold, then hiked rents park-wide. Residents’ home values plummeted and the fixed-income seniors were immediately faced with an uncertain future and dire economic hardships. Tatro & Zamoyski, LLP filed a class action on behalf of all homeowners and residents. After sometimes contentious litigation, we were able to resolve the case and obtain a court-approved settlement valued at over $7 million, but the benefits of the settlement were estimated to potentially reach $13 million for the homeowners and seniors. Peter Zamoyski, who represented the homeowners throughout this litigation, remarked, “This extraordinary settlement agreement came about only after a long series of tough David against Goliath battles. At the end of the day, these senior citizens are standing tall and proud after going toe-to-toe against a Fortune 500 company that seemed to have all the power and financial muscle that one can imagine.” Zamoyski added, “This court-approved settlement guarantees residents’ legal rights and financial benefits, all of which give the elderly residents of the Park a renewed sense of economic stability and certainty. It provides peace of mind for them and their families knowing that, regardless of the timing of the Park closure or their own personal situations, they have guaranteed, well-known options that can’t ever be taken away.”
