Tuesday, June 17, 2008

H45 Project Sliding Toward Foreclosure

Bearlee mentioned in the open thread that the H45 project on 45th and Hawthorne was in foreclosure. I talked with their sales office today and the friendly sales person confirmed that the developer was working with the bank to avoid a foreclosure on the project.

I blogged about this project in September when the developer was promoting it as a bare-bones, unfinished, creative-class magnet.

I don’t have many details at this point but it sounds like the people who already purchased a unit will not be impacted by the bank ownership.

Any offer will be considered so if you really want to buy right now throw an offer 40% off the list price. I’m starting to hear stories where this actually works…

…but I’ll save that story for our blog meetup this Friday.