The site is stabilized, the deposit money is being returned and the sales center is now by appointment only. The Sun reported today that everyone who had a reservation with a deposit for the Plaza Residences would receive their deposit back. WCI will continue to honor the reservations.
“"We appreciate their patience as we look forward to the continued successful development of the Plaza Residences," Robert H. Grabner Jr., vice president/senior project manager of the tower division of WCI Mid-Atlantic U.S. Region Inc., said in a statement.”
They say the earliest the project could get going again would be around mid 2009. Of course this isn’t the result of any local pressure. The condominium market is taking the biggest hit in the housing downturn. Ironically, WCI may be thankful that the anti tower legislation and lawsuit held them up for awhile. Right now the last thing that company needs is unsold units.
Liz Bobo was even strangely compassionate in her quote. "It's an example right in our own community of the impact of the housing slump,"
How very insightful.
“"We appreciate their patience as we look forward to the continued successful development of the Plaza Residences," Robert H. Grabner Jr., vice president/senior project manager of the tower division of WCI Mid-Atlantic U.S. Region Inc., said in a statement.”
They say the earliest the project could get going again would be around mid 2009. Of course this isn’t the result of any local pressure. The condominium market is taking the biggest hit in the housing downturn. Ironically, WCI may be thankful that the anti tower legislation and lawsuit held them up for awhile. Right now the last thing that company needs is unsold units.
Liz Bobo was even strangely compassionate in her quote. "It's an example right in our own community of the impact of the housing slump,"
How very insightful.
