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Old 09-26-2009, 07:25 AM
 
26,765 posts, read 41,239,696 times
Reputation: 14902

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Drive to the end of Serengeti Boulevard and you'll find a single home on the cul de sac looking out on a vast lonely plain.

Despite its name, Serengeti wasn't supposed to be this isolated. It was supposed to be a thriving gated community of about 100 estate homes just off the Suncoast Parkway
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So now Wicks works out of a model home in a community where he can't build.

"We've been trying to buy lots directly from Wachovia, but we can't even get them to return our calls," he said.

Wachovia, one of five lenders foreclosing on Metro, couldn't sell the assets even if it wanted to because the case is still in litigation. The receiver doesn't have the legal authority to start selling off assets, either.
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The massive foreclosure case has planners wondering when, or if, these projects will ever be finished.

Moderator cut: copyright
An untenable development


I just copied a few small parts of a long article...click on the link to read the entire article.

Last edited by Keeper; 09-26-2009 at 04:36 PM..
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Old 09-26-2009, 10:58 AM
 
Location: Tampa
2,602 posts, read 7,459,165 times
Reputation: 1551
Haha, a lone model home in the middle of nowhere? Reminds me of Arrested Development.
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