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

Home Forums General Columbus Discussion Development The Hub Mixed Use Apartment Development in The Short North – News & Updates

Viewing 15 posts - 586 through 600 (of 901 total)
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    I would still classify the project as wip as opposed to doa



    Weird to think that we started talking about the Ibiza project on here almost 3 years ago (https://www.columbusunderground.com/ibiza-development-news-and-updates) and there still isn’t a damn thing happening on that site.


    BTW, Congrats on the nuptials Aaminian!!



    They’ve built a tower of sadness and disappointment.



    They should fill it in with gravel and make it an event space like it was for the PBR event…or a parking lot…Anything would be better than the Union lot with its cavernous tire-popping potholes. Or maybe make it a space for all the food carts to convene like during the Wonderland Food Truck Food Court…clearly there’s a market for it. Seriously, this spot is the biggest eye sore (minus of course the awesome murals)…I wish they’d do something with it.



    Then maybe Arms could make some money and start paying back all the deposits they owe people.

    Chris Sherman
    Chris Sherman

    placebohigh wrote >> </
    (minus of course the awesome murals)….

    I’m glad someone thinks they are awesome. If anything it’s been something fun to do on gallery hop nights.



    ShimmyKnocker wrote >>
    BTW, Congrats on the nuptials Aaminian!!



    So, I’ve heard that ARMS has issued a letter to it’s Ibiza “tenants” regarding the down payments/deposits earlier this week. According to the letter, they were unable to secure the apartment financing, which was to be used in part to pay back the deposit money given by those towards condos at Ibiza. Has anyone here received this letter, or know anything about this?



    That’s surprising.
    No wait, it’s the opposite of that.


    word on the street was a little more promising, with an additional local and respected developer looking to tag team with coopersmith

    they have now probably come to the conclusion that they do not want any relationship with ARMS and the best way to acquire the property and clear encumbrances will be through foreclosure and sheriff sale

    my guess would be that the coopersmith team buys the note at a discount from finance fund, puts the property through foreclosure/sheriff sale, buys the property at the sale, which in turn will clear all secondary positions leaving contractors/depositors to pound sand and the property free and clear for future development



    That should add fear in an already scary condo/realestate market. Atleast the Whitney condo debacle in the KLD had no depositors.



    From the Dispatch…

    Refunds of Short North condo deposits delayed

    By Jim Weiker

    Investors in the unsuccessful Ibiza condominium complex in the Short North have been told their deposits will not be returned by Monday, as the developer had previously suggested.

    Read more

Viewing 15 posts - 586 through 600 (of 901 total)

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