Chalk Hill in foreclosure

An 8-acre landmark site on Ventura Boulevard that was both an entertainment venue and worship site for a half-century has been foreclosed on, a victim of the recession.Gregory J. Wilcox in the Daily News.

Bank of America seized the property on April 21, after a development company that planned to build a 340-unit condominium and retail project there defaulted on the loan, according to Los Angeles County Assessor's Office records.

The property at 20600 Ventura Blvd., an area known as Chalk Hill, was purchased by Jefferson at Woodland Hills, an entity of Irving, Texas-based JPI Development in April 2007 for $49.5 million, documents show. It owed $41.8 million at the time of the foreclosure.