West Palm Beach Condo Projects Take A Beating, Stalling Completion Of Downtown Renaissance

In West Palm Beach, Florida, the South Florida Business Journal reports:

• Business and civic leaders hoped a condo boom would complete the renaissance of downtown West Palm Beach, but the real estate bust has swallowed more than two-thirds of the projects. Of the 32 downtown multifamily residential projects on the city's active list, three are under construction, seven are completed and 22 are either stalled or have expired site plans. Four projects have faced foreclosure lawsuits from lenders. One more is marketing a bulk sale of its remaining units at a 47 percent discount, which is expected to further depress prices.

For more, see Condo projects evaporating in downtown West Palm Beach (if link expires, try here or try here).