5th and Main Condos Boot Renters Out

April 13, 2010 by admin · View Comments 

In the wake of the project losing FHA certification, the lender is quietly booting ‘lease purchasers’ out of the building who have no intention of consummating a purchase. Why? It’s simple. Under HUD’s revised rules, a condo development must be at least 50% owner occupied in addition to at least 30% sold or under contract [...]

5th & Main Condos in Nashville Update

September 4, 2009 by admin · View Comments 

Quick condo sales update for the 5th & Main condo project in Nashville. As of September 4th, 2009 there have still only been 7 total sales in the building despite all of the hoopla. 5 of those condo buyers closed prior to the project slipping into receivership in February of 2009. The last 2 buyers, all [...]

5th & Main Condo Project loses crucial FHA backing

August 7, 2009 by admin · View Comments 

This article entitled “5th & Main loses crucial FHA backing” appeared in the Nashville Business Journal on August the 7th, 2009. The author is Jenny Burns:   “East Nashville’s 5th & Main condo project has lost its prime source of financing for its buyers - the latest snag for the troubled downtown project.   The U.S. Department [...]

Whetstone Subdivision in Brentwood Foreclosed

July 14, 2009 by admin · View Comments 

  This article entitled “Brentwood’s Whetstone falls in foreclosure” appeared in the Nashville Business Journal on July the 14th, 2009. The author is Jenny Burns:   “A Brentwood housing development with million-dollar homes, Whetstone, is in foreclosure. Developers say this is the first major development in Brentwood to go into foreclosure during the current recession, [...]

5th and Main Condos in Nashville Survive

June 13, 2009 by admin · View Comments 

It is rumored that the 5th and Main condos in Nashville have endured receivership and will be placed back on the market any day. From what I understand, Wachovia Bank continues to be involved in the project as the primary construction lender and has actually already resumed construction in phase II (someone send me a [...]

Rolling Mill Hill to Enter Receivership

June 4, 2009 by admin · View Comments 

  It is not my habit to speculate, although I have privately for some time, that the Rolling Mill Hill project is going to enter receivership, but I have it on good accord that this will come to pass. Should this project enter receivership, it will be the third condo development in Middle Tennessee to [...]