Developer West Millennium put the 12-story Brockman Building (which houses the popular Bottega Louie restaurant on the ground floor) in Chapter 7 bankruptcy, a first step toward liquidation, in April, after defaulting on a $35 million loan from Bank of America. “That’s like throwing in the towel,” Rasmussen said of filing Chapter 7. “When you file a Chapter 11, the developer remains in control of the project… when you file a 7, you’re giving over control of the property. They may be out of money, they may understand that there’s no way the lender will work with them, or they may want to move on to another project.” The building’s court-appointed trustee, Amy Goldman of Lewis Brisbois Bisgaard & Smith LLP, said that lender Bank of America indicated in recently filed court papers that it plans to foreclose. However, it is unlikely to finish the process or find a buyer until 2010, she said. Until then, the building’s 80 lofts will remain empty. One of the seven buildings at Santee Village also sits empty. Developer Santee Village Partners, originally headed by Mark Weinstein, sold the rental portion of the project, made up of three buildings, to a “major state pension fund” about four years ago, said Will Fulton of the Dallas-based asset manager L&B Realty, which handled the deal. They operate independently from the original project, under the name Santee Court Lofts.