The Hub Mixed Use Apartment Development in The Short North - News & Updates
- June 5, 2010 4:13 pm at 4:13 pm #261243
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.June 5, 2010 4:15 pm at 4:15 pm #261244
I thought I heard they were selling Axis for around $2 million to help find money to repay the deposits…June 29, 2010 7:37 pm at 7:37 pm #261245
Any idea who is responsible with the art in the ibiza lot?July 6, 2010 1:47 pm at 1:47 pm #261246
Good article in today’s Dispatch concerning the future of Ibiza. No telling when depositors will ever get a refund from the developers.July 7, 2010 1:01 am at 1:01 am #261247
ill believe it when there are shovels in the groundJuly 8, 2010 3:28 pm at 3:28 pm #261248
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.July 8, 2010 5:10 pm at 5:10 pm #261250
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?July 8, 2010 5:13 pm at 5:13 pm #261251
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.July 8, 2010 5:18 pm at 5:18 pm #261252
Oh I’m sure there were lots of folks squatting there during beerfest and then comfest.July 8, 2010 5:25 pm at 5:25 pm #261253
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.July 8, 2010 6:50 pm at 6:50 pm #261254
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.July 8, 2010 7:22 pm at 7:22 pm #261255
Well that makes sense I guess. Just sounded almost like a pyramid scheme, paying investors back with new investors monies.July 8, 2010 8:00 pm at 8:00 pm #261256July 8, 2010 8:01 pm at 8:01 pm #261258
Think about this one. Maybe they can’t declare bankruptcy.July 8, 2010 8:03 pm at 8:03 pm #261259
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