Sometime things just don't work out.

[w2amr]

This Monstrosity is about 3 minutes from here.

Rivercove Apartments will offer elevator service and spacious floor plans with monthly rentals starting at * $1,300 (one bedroom); $1,700 (two bedroom); and $3,000 for the spectacular two bedroom penthouse


http://www.nj.com/gloucester/index.s...230.xml&coll=8


Grove Street Realty Urban Renewal L.L.C. Ð the developer behind the age-restricted Rivercove apartments, which opened in September 2009 Ð filed for bankruptcy in July saying it is "unable to pay its debts as they mature."

I hear they have about 3 tennants so far.

[N8YX]

That kind of rent...in this kind of economy?

[w2amr]

That kind of rent...in this kind of economy?

Sounds like somebody didn't do their homework.
In a couple of years it will be a HUD building. The old folks in the 300 k per home housing development next door will be thrilled.

[W1GUH]

Warms the heart, doesn't it? The building that my old building was demolished to make room for, and that was started in '05 looks less than 50% occupied. Prices of the condos starts at 2 M$. Bet that developer was REALLY caught in the housing bust! My heart bleeds for them!

[KG4CGC]

Retirement in SC is looking better and better each year. While unemployment is at 12.5%, few million retirees coming in could boost the service sector jobs. While the north western half of the state is heavy in manufacturing, those jobs are not being filled with new help while the plants struggle to stay open. Struggle? Yes, because they believe that as long as they keep the employment picture dire, the working class of people will turn against the current administration.
Same thing happened in this area after Clinton won his first term, it just didn't last as long. This time they are more empowered by the rightwing talking heads. Am I saying that businesses in the area are actively working to keep the economy in dire straights while the President is still in office?
I'm not saying a thing.

[W1GUH]

Retirement in SC is looking better and better each year. While unemployment is at 12.5%, few million retirees coming in could boost the service sector jobs. While the north western half of the state is heavy in manufacturing, those jobs are not being filled with new help while the plants struggle to stay open. Struggle? Yes, because they believe that as long as they keep the employment picture dire, the working class of people will turn against the current administration.
Same thing happened in this area after Clinton won his first term, it just didn't last as long. This time they are more empowered by the rightwing talking heads. Am I saying that businesses in the area are actively working to keep the economy in dire straights while the President is still in office?
I'm not saying a thing.

"Money for nothing..."

[n2ize]

i guess they overestimated the yuppie scum.

[KG4CGC]

i guess they overestimated the yuppie scum.

Didn't all migrate to Wall Street in the 90's.

[N2NH]

LMAO!!! That's seriously funny. I read quite a few posts this evening, now I'm drooling, especially with IEI near meltdown, but I can hold out one more day.

I'll post in every thread you start after work tomorrow, bar none! :twisted:

Not quite. Many migrated to Bay Ridge where I used to live. They lasted about 2 years before realizing that you can't block the entire 18' wide sidewalk in an old fashioned Brooklyn neighborhood. They didn't last in Park Slope either. Their now in DUMBO or downtown where they can easily get those kinds of rents if not more. There's a building boom going on in Downtown Brooklyn and DUMBO and the end is not in sight. One stop from Downtown Manhattan and if you drive it's even closer.

[kc7jty]

The developer that was putting in 82 new houses SE of me dried up after his crews broke the city's biggest water main back in March, putting in the water mains for the new streets, with their machines.
Nobody knows what happened to him, maybe he went back to New Jersey (Willingboro I think it was)?
More houses for sale here now, and it seems everybody is having yard sales over the weekends. One woman was hoping to get a couple $k for the baby.