Joel Sternfeld/ On This Site.

image and text by
Joel Sternfeld

from the series:
On This Site/ Landscape In Memoriam.

Estrella Development,
near Southern Avenue, Goodyear, Arizona,
January 1995

Charles Keating, Jr., began developing this planned community in the desert near Estrella Mountain, while he was the chief executive officer of Lincoln Savings and Loan. In 1989 the bank collapsed due to mismanagement. Estrella was never completed.

Keating was convicted of multiple fraud and racketeering charges and was sentenced to twelve and a half years in prison. Twenty-two thousand of the bank’s uninsured depositors, many of them elderly, lost their life savings.