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Friday, June 08, 2007

34 buyers suing to get deposits back from condo project-Tampa, Fl

34 buyers suing to get deposits back from condo project
By: Dave Balut
Tampa, Fl. -

The Channelside District as seen from one of the large parking garages across the street.

A new condo project called The Place At Channelside is almost finished, but now some buyers are trying to bail out. 34 buyers are suing developers of The Place At Channelside to get out of their contracts and get their deposits back.

Real estate investor Cindy Cicala says construction has taken a lot longer than she anticipated so she’s no longer ahead of the curve on the real estate market in Channelside.

Cindy Cicala, Real Estate Attorney:
“I feel very deceived. I feel like they haven’t fulfilled their contract. I just signed a contract based on certain things and they haven’t fulfilled it so I would just like my money back."
Architect Marc Van Steenlandt says delays in construction at The Place at Channelside were caused by problems getting building materials like PVC pipe after Hurricane Katrina in 2005.
He showed us one of the units that’s finished and says some owners will start closing June 15th.
Van Steenlandt says he hopes buyers who filed lawsuits will reconsider and close on their units, but it appears the matter is headed to court.

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