Portland Condo Project Handed Back To The Bank
Filed under: Real Estate Developments
A major condo project in Portland, the Waterfront Pearl, is going back to its lender. Oregon Live reports that a subsidiary of Macquarie Group, an Australian financial firm has taken over the project because the developer could not raise enough money to deal with project cost overruns. The condo building is featured in this year's Street of Dreams show which is currently underway. This year the show is highlighting condos showing nine condos in four buildings.
The bank is still trying to sell the units, offering around 150 of the remaining units as rent-to-owns or for-sale condos. Units were originally priced at $350,000 to $1.3 million. A rush of building projects has led to many unsold condos in the market in Portland and many are selling at deep discounts from their original list prices.
These American Companies Refused To Sign The Bangladesh Safety Accord
Live from Google I/O's 2013 opening keynote!
Former OJ Attorney Gives Shocking Testimony
Chili's Waitress Fired Over Facebook Post Insulting 'Stupid Cops'
Billboard Music Awards: Worst Dressed (or Most Daring?) From Past Red Carpets
New Leads In Case Of Missing British Girl
HSBC Plans 14,000 More Job Cuts
Forbidden America: Cold War-Era Map Shows No-Go Zones For Soviet Tourists
Waitress Surprised With HUGE Tip On Tiny Bill
Man Takes Dump In Background Of Instructional Workout Video
BBC Host Paula White Pulled Off Air After Sounding Drunk
Guess Which State Boasts The Most Million-Dollar Homes?
Tenants: Stench of Death Makes St. Louis Complex 'Unlivable'
Save on Spring Cleaning With a New Vacuum -- Savings Experiment
LOOK: There's Something Wrong With This Picture
Famous Roadside Attractions
Teen Who Died During Her First Solo Drive May Have Been Texting
PREGNANT!
Victim's Sister To Arias: 'Our Minds Are Permanently Stained'
PHOTO: Looking Good! Chaz Bono Loses 65 Pounds
Student Shot Dead During Botched Home Invasion
The Afterlife Of Andy Kaufman
Jodi Arias' Lawyers Want Out
Will Smith, Jaden Smith Get Photobombed
Pictures Showing Pregnant Teens' Bumps Banned From Yearbook
And Your New 'American Idol' Is ...
LOOK: Khloe K Shows Curves In SKIN TIGHT Dress
Chef Allegedly Killed Over Noodle Dinner Gone Wrong
Televangelist Claims It's The Wife's Job To Keep Men Faithful
LeAnn Rimes, Brandi Glanville Feud Reignites
LOOK: Mind-Blowing Optical Illusions
5 Ways You're Wasting Money At Restaurants