Friday, May 28, 2010

Sales halted on Condo Project, None Sold

by Calculated Risk on 5/28/2010 03:32:00 PM

This sounds so 2007 ... but it is today.

From David Bracken at the Sales stop for Raleigh condo project (ht dshort)

Hue, the multicolor building that is the largest condo project ever attempted in downtown Raleigh, closed its sales office without ever selling a unit.

Signs posted on the building's doors, as well as a message left on the sales office's answering machine, say Hue will be closed until further notice.
With its royal blue and mustard exterior, the 208-unit ... seven-story building across from the city administration building downtown replaced a parking lot and was considered a bold symbol of downtown Raleigh's revitalization.
So much for the "revitalization". This is part of the shadow inventory ...