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Soleil Center at Crabtree Mall is heading into foreclosure as well as the Bloomsbury Estates condo in downtown Raleigh heading into foreclosure auction.
Soleil Center has sat as a vandalized, overgrown, and neglected eye-sore of a construction site for a couple of years. The project has zero potential at this point. I don't see it as a sad day that the property is foreclosed upon - perhaps some more productive (and attractive) use can be made of the site.
I can't say I'm sorry to see the Soleil center go. They picked a terrible spot IMO. I read the article in the paper today. They didn't say Bloomsbury was going into foreclosure and hosting an acuction. I believe the owner stated he was working on getting investors to take on the debt. The Bloomsbury estates are an interesting project in a cool spot, but a terrible price point that is a tough sell. I can see it being filled up in the future but at a deep discount.
I would LOVE to live at Bloomsbury, but I doubt I could afford one even at auction price! I used to drool over that building when I was within walking distance. The Virginia Woolf please!
Bloombury Estates is stupid looking and ridiculously expensive considering it is by a prison, mental institution, college housing, and train tracks. Soleil Center was dead before I even moved here 2 years ago, and that was good looking but in a stupid location. I mean if the economy was still booming, idiotic projects could probably still work out, but not anymore...
Yeah..I could see this coming for Bloomsbury, if indeed that's what happened.
Cool building, just very expensive and it's located a bit weird.
After the auctions @ West and now the Quorum, who's going to pay the crazy prices @ Bloomsbury? It's all way, way overpriced. I've heard that only ~ 10-12 units have been sold @ bloomsbury.
Not sure how you can have a building that's 3/4 empty year after year.
Anybody know what happened at the Quorum Center auction a few weeks ago? I don't see any deeds recorded since then and it looks like at least 7 of the units are back on sale on the MLS listed as "Post-foreclosure" sale.
I'm currently renting in west and looking @ the market prices.
I saw a quorum condo on the mls today as well.
It was one of the smallest units ~760 sf, and it was listed @ 260k ish.
Not sure what logic they're using as you can't sell it @ auction, then you still want over $300 sf for a small unit?
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