HIGHLAND PARK, Mich. -- The FBI confirmed Friday it is investigating the collapse of a housing development in Highland Park.

"I envisioned good (credit) rate scores and I envisioned a bunch of homeowners owning these homes," said Highland Park resident Michael Curry. "Now, it's down the drain."

The investigation is into a housing development known as North Pointe Village. Curry, who owns one of the homes, said he was told the project would transform a decaying neighborhood into a thriving community.

Curry said his dream is now a nighmare and that the old blight has simply become new blight: new, empty homes that have been stripped by thieves.

"People just came through (taking things), and they even pushed furnaces down the street," Curry said. "They just vandalized the houses, totally."

According to Curry, the thieves are usually after the copper wiring but quickly realize other items are easy targets as well. He has seen homes with missing kitchen cabinets, sinks, hot water heaters, doors "and just about anything they could walk away with."

The first homeowners moved in in February 2005. The goal was to let low-income people rent-to-own, but Curry said most homes still sit empty.

According to investigators, the collapse of North Pointe Village also hurt investors in the project.

Attorney Joel Sklar sued on behalf of 10 investors from California.

Sklar said his clients were convinced by a promotional brochure that said, "Investing has never been so easy."

"They promised them a return (on their money)," Sklar said. "So you would be doing good works for people in need and you would get paid for it."

Sklar said each of his clients bought five homes to rent out with an average asking price of $130,000. He said his clients were too trusting and, being from California, had no idea the Highland Park property was overvalued.

"We (here) all know the properties there (in Highland Park) don't have that kind of value," Sklar said.

Sklar sued the California developer, B-H-R, and the builder, Candler Stevens of Michigan, but said he was never able to find owners of either company.

The FBI has now asked Highland Park officials for documents showing the transfer of vacant property to the people behind North Pointe Village.

"I'm glad to hear that," Sklar said. "We need to follow the money. We need to see what happened here."

One developer said he is now rehabbing 13 of the stripped homes. Though each property was initially appraised at more than $100,000, he bought them, heavily damaged, for between $2,000 and $8,000 each.