Land for a proposed gay and lesbian retirement village in Palm Springs, California that was affiliated with tennis legend Billie Jean King was foreclosed upon earlier this week. RainbowVision, which operates another retirement facility in Santa Fe, blamed the foreclosure on the economy and bank’s un-willingness to provide construction loans according to the article in the Desert Sun. The article paints a picture that the project may get restarted at a later date if the bank sells the property back to the company. According to the president of the company, they had 100 deposits for reservations and many prospective residents are keeping their deposits intact for either another facility from RainbowVision or transferring to the Santa Fe facility.
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