Sometimes, the Bay Area real estate market is wilder than a Silicon Valley startup pitch meeting. Enter John and Raelynn Hickey, the dynamic duo who seem to think the Outer Sunset is their personal real estate playground.

These persistent developers have been trying to transform a humble nursery into a 50-story apartment tower that absolutely no one asked for. Talk about audacity with a capital A. Their latest scheme? A 100% affordable high-rise with 682 units - except they no longer own the land.

A History of Broken Promises

Let’s take a quick trip down memory lane. Back in 2004, John Hickey tried pitching plans for California’s largest residential towers. Spoiler alert: it didn’t go well. He was indicted and spent nearly eight years in prison for a Ponzi scheme that swindled over 700 investors out of approximately $20 million. Classic Silicon Valley move, right?

The Foreclosure Finale

Last month, their lender, Loan Oak Fund, seized the lots through a judicial foreclosure. The Hickeys even attempted a Hail Mary Chapter 11 bankruptcy filing, which was promptly dismissed by a U.S. Bankruptcy Court judge who wasn’t buying their “good faith” act.

Dreams vs. Reality

Despite losing control of the property and accumulating over $12 million in unpaid debt, the Hickeys submitted yet another planning application. Their dream of turning Ocean Beach into “Miami Beach” continues, much to the horror of local Sunset residents who prefer their neighborhood’s sleepy, single-family home charm.

Sometimes, persistence is just another word for delusion - and the Hickeys are living proof.