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The Hub Mixed Use Apartment Development in The Short North - News & Updates

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This topic contains 876 replies, has 0 voices, and was last updated by  JingleJangle 6 months, 1 week ago.

Viewing 15 posts - 556 through 570 (of 897 total)
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  • #261243

    Leahy255
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    They are suppose to get construction financing quick turning them into apartments, they probably still have some work to do before they do that. I remember reading they had to turn 135 condos back into 150 since people were combining condos but as apartments they won’t do that.

    #261244

    Leahy255
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    I thought I heard they were selling Axis for around $2 million to help find money to repay the deposits…

    #261245
    Tigertree
    Tigertree
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    Any idea who is responsible with the art in the ibiza lot?

    #261246

    gk
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    Good article in today’s Dispatch concerning the future of Ibiza. No telling when depositors will ever get a refund from the developers.

    http://www.dispatch.com/live/content/business/stories/2010/07/06/condo-plan-replaced-as-investors-keep-suing.html

    #261247

    heresthecasey
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    ill believe it when there are shovels in the ground

    #261248
    anillo
    anillo
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    I hope they release the name of the developer they’re going to work with soon. They’ve already hidden enough bullshit in this project, it’d behoove them to just be as open as possible now. Also, is the graffiti still there? Maybe if enough people spraypaint over there, they’ll finally take down the decaying sign.

    #261250
    Snarf
    Snarf
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    Is it kind of fucked that the developer would be moving forward with anything until they’ve refunded all deposits or am I wrong about something here?

    #261251
    Jim Lauwers
    Jim Lauwers
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    Snarf: I saw a tent hidden behind the big sign while walking to Beerfest. So maybe they’re letting depositors squat there in lieu of paying them.

    #261252
    Snarf
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    Oh I’m sure there were lots of folks squatting there during beerfest and then comfest.

    #261253
    Jim Lauwers
    Jim Lauwers
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    I don’t know if the person was there for Beerfest or Marcon or what, I just remember that I had friends visiting at the time. “And here’s the abandoned lot I live near… and here’s a vagrant that’s apparently living in the abandoned lot I live near… and here are some steel reserve empties in the street adjacent to the abandoned lot I live near.”

    But the good news is that those abandoned Ibiza signs have given local sticker manufacturers Fresco and Digeratii ample space on which to advertise their extensive line of stickers.

    #261254

    JoeMitchell
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    Snarf wrote >>
    Is it kind of fucked that the developer would be moving forward with anything until they’ve refunded all deposits or am I wrong about something here?

    How else do you expect them to come up with the cash? Either proceeds from a construction loan or new partner equity.

    The easy thing for them to do would be bankruptcy, Apex probably has no assets other than the land, give the land back to the finance fund, who does not want it, leave the depositors with nothing, fairly simple.

    Depositors should be encouraged by Apex’s determination to make the project work, otherwise everyone loses.

    #261255
    Snarf
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    Well that makes sense I guess. Just sounded almost like a pyramid scheme, paying investors back with new investors monies.

    #261256

    monadnock
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    #261258

    monadnock
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    Think about this one. Maybe they can’t declare bankruptcy.

    #261259

    monadnock
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Viewing 15 posts - 556 through 570 (of 897 total)

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