Towers of Channelside in Downtown Tampa Are Going Back To Bank

PRLog (Press Release) - Apr 17, 2009 -
Towers of Channelside – With 28 condos sold in the last year you wouldthink the Towers would be in great shape. Thats not the case however as the developer for the 29 story luxury condo community has notified the lender it’s giving up on the project six months after emerging from chapter 11 reorganization.
“Unfortunately it’s the economy. It’s bigger than us. It’s bigger than any one person,” said Richard Sacchi, a principal of Towers of Channelside LLC.
We’ve been fighting a very tough battle, said John Montesano, a resident and the Broker for Homeward Real Estate, the on-site Broker at the Towers of Channelside. 
Even in a down market, all the uncertainties of reorganization and mortgages next to impossible to obtain the interest level in the Towers, by people wanting to live downtown or maintain a second home here has remained very high.
Prices definetly do not reflect the value a buyer is getting at the Towers of Channelside. when buyers realize the banks are not going to let the property fall into a state of disrepair and prices aren’t going any lower the serious buyers that have been holding out will get the deal of a lifetime.
For More information regarding the Towers of Channelside, please call the Towers of Channelside sales office Mon-Sat 10AM-5PM and Sun 1PM-PM at 813–574–7252 or visit the sales center in Tower 1 located on the 5th floor @ 1211 E Cumberland Ave, Tampa FL 33602.

New prices have been released and are available along with floor plans at: http://homewardrealestate.com/2009/04/15/incredible-price...

Photo:
http://www.prlog.org/10219513/1