California Coastal Communities, Inc. is a residential land development and homebuilding company with properties owned or controlled primarily in Orange County, California, and also in two other Southern California counties (Los Angeles and Riverside). The Company’s principal activities include obtaining zoning and other entitlements for land that it owns; improving the land for residential development, and designing, constructing and selling single-family homes in Southern California. The Company’s primary asset is a 356-home luxury coastal community known as Brightwater. The Company’s homebuilding operations include projects in the Huntington Beach, the Inland Empire (Beaumont), and Lancaster areas of Southern California. During the year ended December 31, 2008, the Company delivered 55 homes. In October 2009, the Company and certain of its subsidiaries filed voluntary petitions for reorganization under Chapter 11 of the Unites States Bankruptcy Code.