o you know anything about this? (The Factory)

**ETL** · 07-14-2006, 12:14 AM

Go to http://skyscrapercity.com/showthread...5&page=1&pp=20 an scroll down to #7. What is the update on this project? (The Factory)

**BDP** · 07-14-2006, 08:43 AM

D.o.a.

**Pete** · 07-14-2006, 09:16 AM

Yeah, the project is dead and the property was recently auctioned off to a local developer that to date has only built homes.

He's been quoted as saying he's not sure what he'll do with the property.

**ETL** · 07-14-2006, 06:29 PM

Why? That was a great plan by TAP!

**Pete** · 07-14-2006, 07:49 PM

The previous owners were in way over their heads. I believe they were the heirs of the Bunte Candy money and the buildings had been in their family for a few generations.

I loved the ideas but I don't think it ever got much further than the visualization stage.

I wouldn't be surprised to see something similar done with the property -- or at least renovation into housing.

**ETL** · 07-14-2006, 07:51 PM

That would be good, but nothing is in the works yet?

Sooner Golf · 07-14-2006, 09:35 PM

The problem in that deal wasn't the family that owned the buildings. They were basically going to give the buildings to the group who was going to develop the property for an equity position in the project. However, the developers could not get their financing in place and the deal fell apart.

They recently auctioned the property off to a home buider from MWC for $12.5 million. Not too bad in my world.