No surprises here, this white elephant is still mothballed, leaving 8 stories of steel rotting in the Phoenix desert sun, causing an eyesore of housing bubble devastation for everyone to see.
Thinking of putting money down on a Phoenix condo unit? I hope you drive by this project first for inspiration. The condo projects around the country that were cancelled before construction started are the lucky ones. The ones that are now being pulled mid-construction, well, that's gonna be a bit of a problem for cities, banks and individuals to deal with for years and years to come.
Tear 'em down? Turn 'em into offices? Or just let them rot, reminding people what greed, bubbles and stupidity looks like?
Chandler officials are considering what to do when building permits on a troubled high-rise project are allowed to expire next week.
Developer Jeff Cline, of Signature Properties West, said Thursday he won’t make the Tuesday deadline to resume work, meaning the permits will expire on what was supposed to be Chandler’s tallest building at 10 stories.
Construction on Elevation Chandler, a planned high-rise with condominiums, luxury hotel and health club, began last November. But work ceased in April, and the unfinished skeleton of steel beams and concrete floors has sat untouched next to Chandler Fashion Center mall with only eight floors built.
Approximately $5.8 million in liens have been been filed against the property by contractor Weitz Co. as well as several subcontractors.
Cline acknowledged in his statement Thursday that he’s in negotiations with the project’s original lender regarding a foreclosure filing.
September 23, 2006
Update on the stupidest condo project ever conceived - the now rotting Elevation Chandler
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5 comments:
The one in Bakersfield for two 31 story towers with a restaurant and sky tower is much WORSE.
http://bakersfieldbubble.blogspot.com
crispy&cole
Also, the expected cost is $450 million. someone is smoking some serious crack!
crispy&cole
Crisp & Cole’s next big endeavor promises to be its most-ambitious yet.
The company is proposing to build two 31-story skyscrapers on the Cal State Bakersfield campus, a $370-million project that would include condominiums and a hotel.
With his visionary attitude and flashy style, Crisp is building a name for himself in town.
He turned heads at a recent fundraiser for the American Heart Association where two bodyguards accompanied him and his wife.
The security team is a new addition to Crisp’s life that’s taken some getting used to for his family. He also has two German shepherds in training and a Range Rover with a license plate that reads “CCRE K9.”
With all the stupid Republican white trash scum in Arizona, they'll find a market for it.
Well, if it ain't Republican white trash scum, then it will be Democrat tree huggin' whinning give-me, sandal wearers and illegals!
One and the same!
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