« Open House Picks Streetlevel: Coffee Shop for the South Slope »

October 17, 2008

Development Watch: Little Progress on 23 Caton Place

catononthepark_1008.jpg
Despite a stop work order issued in April and 85 complaints (the last filed on September 27 for unsafe scaffolding) we heard construction equipment whirring at 23 Caton Place last week. The building, however, looks almost identical to when we last checked in, on August 4th. The project has been plagued with problems, most recently all kinds of financial meltdowns, including a suit by the bank against the developer. Will it ever see the light? GMAP P*Shark DOB
Bank Sues Caton Place Developer [Brownstoner]
Work Stops at Caton Place Condos [Brownstoner]
At 23 Caton Place, Laborers Labor on Labor Day [Brownstoner]




Posted by lisa at 2:02 PM | Comments (2)
Categories: Development, Kensington

Trackback Pings

TrackBack URL for this entry:
http://www.brownstoner.com/mte/mt-tb.cgi/6629

Comments

The mezzanine position has been wiped out and the mezzanine lender bankrupt. The construction lender, Corus, is expected to fail based on the large portfolio of for sale condominiums it financed, many in Florida and Las Vegas.

Until that plays out doubt much will happen here though many developers and funds are circling the property if it can be purchased "at the right price"

Posted by: aabklyn at October 17, 2008 2:18 PM

I heard its going to be a gigantic 99cents store.

Posted by: Xander Crews at October 17, 2008 5:59 PM

Post a comment

Please be patient while your comment is published. It may take a moment.

Latest Restaurant Additions