Condo builders: Deposits back soon [South Florida]
Still debating which New Year’s resolution to keep through next week?
Developers of two unbuilt West Palm Beach condo projects have their resolutions already lined up: We promise to give buyers back their deposits … soon.
During the past month, buyers in the Opera Place and Palladio Terrace high-rises slated for downtown West Palm Beach have been peppered with Dear Buyer letters from their Miami-based developers. The letters promise the return of buyers’ deposits now that these luxury condo towers aren’t going forward. Blame a lousy condo market and vaporized bank financing.