Developer Implode
Welcome to Developer Implode
We all know the world business climate is faced with challenging economic times today and the experts all warn of more to come. The daily headlines are filled with bailout news for the bankers, insurance companies, auto industry and homeowners faced with foreclosure. The oil sheiks, Wall Street investment bankers and real estate makers are all facing a tough road ahead to climb back up to the multi-billion dollar profits they made in previous years.
While the economy was great, there were plenty of real estate developers - many were able to print money, with no shortage of eager buyers. Now, many of those same eager buyers are bailing on pre-construction deals they made during those silly times. Sophisticated sales launches for new condominium and high-rise projects are now being reinvented with new incentive gimmicks and auctions, to reduce existing housing inventories.
The mission for Developer Implode is to help us keep track of the various real estate projects in our communities. We hope to keep our readers informed on all those large holes in the ground, hiding behind the construction fencing hung with the beautiful renderings of what is to come.
Time To Sue Marriott |
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MGM CityCenter On Track To Open This Year |
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Phoenix-Scottsdale-Paradise Valley Hotels |
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Rancho Palos Verdes gives luxury resort an $8-million bailout |
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Sad Sight in Tiger Town |
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Developer Drops Gehry’s Design for Brooklyn Arena |
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Virtual World - Virtual Real Estate Developers - Virtual Contracts - Virtual Lawsuits |
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Follow Me.......... |
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Guaranty Bank of Austin, Texas, is demolishing 16 houses at a housing development that it acquired through a foreclosure action. The bank figured it was more cost effective to wreck the houses than try to finish and sell them. WSJ's Michael Corkery reports.
Death Row inmates in San Quentin, Calif., have a highly coveted view that the state and developers eye as opportunity. It's a view shared with a tiny housing community whose main street shares an entrance to the famed prison. Stacey Delo reports.
WSJ's Nick Timiraos says that there is more good news for housing as the pending home sales index has risen for the third straight month, but may not entirely be out of the woods yet.
Barbara Hanley, a former real-estate consultant, and Leo Brooks, an airline pilot, have teamed up with a local dairy to create an artisanal cheese called Hannahbells. Their main aim is to help struggling farmers in their area find a way to become sustainable. Beckey Bright reports.
The High Line, an ambitious new public space opens in Manhattan this week. Set atop once-abandoned railway tracks, the new park has been given a makeover and is already spurring development near by. Sushil Cheema reports.