Whats the deal with 210 trade? (buying, bankruptcy, construction)

[am2]

Was it canceled? on Hold?

[lumbollo]

It is a dead project. The developer/builder Flahaterly and Collins (sp) has filed for bankruptcy. This building sits on top of The Epicenter and that developer Ghazi has his own problems in that he isn't paying the contractors who worked on that part of the project. F&C and Ghazi had cross-sued each other on various matters related to construction of the tower essentially blaming each other for the failure.

The rumor on the street however is they were too inexperienced for a project like this, sold it at too cheap a price to make money on it, and couldn't build it. This all happened months before the economic meltdown started when people were still happily buying things they couldn't afford.

The bottom line is the whole thing is a big mess and is partially the result of the city, yet again, getting into the land development business. Keep in mind this whole project was even made possible because the city tossed a substantial amount of tax money at it, and is on the hook to send even more money that way.