by Calculated Risk on 5/28/2010 03:32:00 PM
Friday, May 28, 2010
Sales halted on Condo Project, None Sold
This sounds so 2007 ... but it is today.
From David Bracken at the Newobserver.com: 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.So much for the "revitalization". This is part of the shadow inventory ...
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.