History As Our Guide For Condo Rhetoric
Posted by Jeff Pruitt - 11/25/08 @ 5:02 pm - Filed Under City Council
I would caution everyone to cast a critical eye towards statements made by Barry Real Estate at tonight’s city council meeting. They have a history of making statements that simply do not pan out. Will we get a realistic assessment tonight or more of the same?
He (Chris Schoen, Barry Real Estate) stated the projected construction period is 10 to 11 months. To hit opening day of the ballpark, it would require a start in the July 1st to August 1st window. He stated that a more likely start time window is August 1st to September 1st.
we believe that a 50% debt level would be very acceptable. We clean the package up, we’ve simplified it very much - if you will, we’ve still gotta come up with that number of units to get a bank to do it. If in the end, we’ve only sold ten, we have a contractual obligation to the City. If we have to come up with a way to fund 100% of it, right now I don’t know how I’d do that, but we’re committed to figuring out how to do that.
Henry said the developers had a goal of having 30 people put down payments on a condo by the end of the month (July), and he thinks they are close to meeting it.
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[...] that the condo and hotel would not have broken ground by the end of 2008. The council has heard excuse piled on top of excuse from Barry Real Estate with the latest “drop dead date” being opening day for [...]
[...] found this gem from Barry Real Estate’s Chris Schoen in the archives: we believe that a 50% debt level would [...]