Wednesday, February 9, 2011
Commencement Condos Move Into Bankruptcy
The struggle continues for the Commencement condo project. The News Tribune is reporting today that the project has filed for bankruptcy protection (read article here). Rick Branchflower, one of the project guru's, noted to me today that this step gives them breathing room to get things back on track...
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4 comments:
oh, please..the commencment has not honored its financial obligations to any organization that i know of, including the town of ruston, the tacoma symphony, the other big arts organization named in the tnt article, etc. this is the way they have done business. now they describe getting out of paying the groups they have made suffer as taking a breather? if u buy that, then we should all take a deep breath..
They might want to try the Budwiser slogan: Know when to say when. Put a fork in it? That turkey has been slow roasting for more than 3 years. I think it is done.The bank needs to step in and finish the siding/flashing and other minimal work to the building.Then auction them off for whatever the market will bring.
Ruston bent over backwards for this group.Lets at least get some property tax revenue from this fiasco.
Nuff said.
Does anyone know where the Commencement Condo project is at today as far as being completed?
Thank you for any and all responses.
Funny you should ask. I was just curious about that yesterday and am researching the issue. I'll get an update posted this evening...
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