Homeowners Accept $1.3-Million Deal : Housing: Residents of Stevenson Ranch's Marblehead area say that they need money to fix their houses and build a swimming pool they were promised.

"Basically, we are hoping to get these people the community that they thought they were buying into. In addition to mending roofs, electrical wiring and plumbing fixtures, the settlement will also pay for paving an incomplete street and building a swimming pool that was promised to the 56 residents of the Marblehead development."

"The repairs they make using the settlement, residents said, will allow people to sell the homes they bought in 1990. No banks would make loans on the homes for the past two years because of their troubled history, the project's lack of amenities and the litigation."

"Obviously, everyone wants to get out of here because everyone has a very bitter taste in their mouths. I personally like Stevenson Ranch. It's a nice place to be."

Fifty-six homeowners in the Marblehead development at Stevenson Ranch near Valencia settled a lawsuit against developers for $1.3 million. The settlement funds will address structural repairs to roofs, electrical wiring, and plumbing, while also completing promised community improvements including street paving and a swimming pool. The homeowners, who purchased their homes in 1990, faced significant difficulties selling their properties due to construction defects, missing amenities, and ongoing litigation. Banks refused to finance homes in the development for two years because of these issues. The settlement, which includes no admission of wrongdoing, was expected to receive Superior Court approval. The original lawsuit, filed in 1992, sought $5 million in damages from multiple developers.

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