News about properties and real estate
Miami Condo Colossus Is Monument to Excess Icon Brickell, a new condominium complex in downtown Miami, was intended to be Jorge Perez’s answer to the Time Warner Center, the massive mixed-use building developed in Manhattan by his longtime business associate, Stephen M. Ross. Mr. Perez, the chairman of the Related Group (an affiliate of Mr. …
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Florida county may declare itself an economic disaster Just five years ago, Port St. Lucie was America’s fastest-growing large city. Then the foreclosure crisis slammed it like a hurricane. Today it sits in one of the hardest-hit counties in the nation. Thousands of houses are empty or unfinished. Neighborhoods are littered with for-sale and foreclosure …
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Local hotel developer indicted in Ohio An Ohio grand jury has indicted Robert Falor, the Chicago developer whose failed attempts to redevelop three downtown hotels left a trail of bad feelings and lawsuits from investors and lenders. Mr. Falor stole $400,000 from an Ohio man who invested in a plan to convert the former Hyatt …
Sink or swim [Southern California] Merchants at the eclectic Seaport Village shopping complex are seeing something they’ve rarely seen amid the T-shirt shops and jewelry stores: empty storefronts and liquidation signs. There’s the shop near the waterfront that once housed The Cabbage Tree. Its owners recently took the “midnight run” – emptying the gift store …
Miami condo king Jorge Pérez battles to survive real estate slump [South Florida] Rising from city bureaucrat to billionaire builder, Jorge Pérez became the great American success story, Miami style. The Cuban immigrant made the South Florida skyline his canvas, erecting high-rises from Miami to West Palm Beach. But not one of them can compare …
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Creditors want deposits back from Orlando vacation-home developer [South Florida] A group of would-be resort-home owners is attempting to force an Orlando developer into U.S. Bankruptcy Court, saying the company took about $34 million in deposits for never-built houses in Polk County. The 19 creditors, many British, filed an involuntary-bankruptcy petition Feb. 20 that seeks …
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