During last five months there is no any progress in construction work at all.
They even increased the promised return to investors/buyers from 6% to 7% but still there is very little interest.
In the near future they will build another big building along the street wall. After which density of population in the complex will be the highest in the North Coast.
In February Remax guaranteed that in August people will be living in their appartments without any construction work in the site.
And tried to scare into purchase saying that from August 1 prices will be
INCREASED by 5%.
In the middle of devastating recession and RE decline without end in sight. Hmmm...
U.S. homes recovery distressingly slow: Reuters/UMich - Yahoo! Finance