Wednesday, December 15, 2010

Commencement Condos In Recievership

Paul Wagemann of the Commencement Group confirmed today that the Commencement condo project is in receivership. The situation is still "fluid" as to what type of receivership and things are still being worked through.

Mr. Wagemann wished things had gone well, but he felt they did everything they could to make the project a success. Some things are out of their control. "But we are where we are," he noted and hoped that Ruston officials would work with them in good faith through this process. He felt working together would give the best chance for a good outcome for everyone.

2 comments:

Anonymous said...

Work with who? I think Mr Wagemann and the Commencement group are out of the picture. Hopefuly the bank can finish it and blow the units out in a fire sale.Better to have tax paying residents than a vacant building.

Anonymous said...

Mr Wagemann and the Commencement group: the town thru every obstacle in your path they could and then gloated about it.
Good luck in the future Ruston needs the Commencement filled out.