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Work will continue on the Vue immediately. I was afraid that this complex was going the way of the Park. It also seems as if the new owners of the Park condo building are anxious to start completing the project after the last few hurdles are jumped. Downtown is really starting to look great.
Well...... there is this small issue of the lawsuits and liens filed against the property, the contractor and the owners, by a number of subcontractors that have not been paid yet. Maybe that is in the works.
I have always been of the opinion this property is one of these things that falls into the "too big to fail" category. They have to finish it because off all the sunk cost put into it, but there is no demand for it now. A folly that anyone thinking of laying out the cash for may be nothing but a losing proposition. It's the delimma of being a complete write off vs putting the rest of the cash into it to finish it and then getting some cash from a few of the people who might still buy into this spectacle.
TradeMark was probably the last successful tower for a long time to come. (Successful from the developer's point of view - I dunno how resales are doing). Since Trademark there has been a series of follies.... towers not completed, or de-contented, or converted to apartments.
TradeMark was probably the last successful tower for a long time to come. (Successful from the developer's point of view - I dunno how resales are doing). Since Trademark there has been a series of follies.... towers not completed, or de-contented, or converted to apartments.
I've heard this place is full of rentals and units for sale.
Lenders' worry about sales stopped work at The Vue - CharlotteObserver.com (http://www.charlotteobserver.com/kerryhallsinge/story/988465.html - broken link)
The owner and developer of 210 Trade, the competitor to this tower which was announced and initially marketed around the same time, has announced that it has going bankrupt. This is the partially built tower on top of The Epicenter.
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