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Loan Modification
: Mortgage Lender Implode-o-MeterSales stop for Raleigh condo project
By Implode-Explode Heavy Industries
Hue, the multicolor building that is the largest condo project ever attempted in downtown Raleigh, closed its sales office without ever selling a unit... The seven-story building across from the city administration building downtown replaced a parking lot and was considered a bold symbol of downtown Raleigh's revitalization. But its splashy entrance on the market last year came at the worst possible time.
We have two words for developers and city planners: "Go rental." And lookie here:
Cisneros said last year that CityView wasn't interested in converting Hue to rental units, but that option might be back on the table. Hue's Web site says 17 units have sold; but according to property records, no deeds have transferred.
Full post as published by Mortgage Lender Implode-o-Meter on May 31, 2010 (boomark / email).
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