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Towers of Channelside files for bankruptcy-Tampa, Fl

Back in February of 2008 when the Towers of Channelside filed for bankruptcy, who would have guessed that in October 2008, The Towers would now be out of bankruptcy?  It is hard to believe, but many condo owners, and people who are looking to purchase can breathe a sigh of relief.

read the latest news story on the Towers at Channelside here…

Towers of Channelside “DEVELOPER EMERGES FROM CHAPTER 11 ON OCT 1st”

 

Towers at Channelside still selling.

Towers of Channelside Condos

Towers of Channelside Condos

 

The Towers of Channelside in the Channel District near downtown Tampa presold all 257 condominium units, but two-thirds of those buyers didn’t follow through with the sale. Now the project developers have filed for bankruptcy protection.

Read full news story

For a current list of condos for sale at the Towers of Channelside please contact us.

Feel free to email or call 813-784-7744
Rae Catanese and Michelle Jordan
Realtors.


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Written by Rae Catanese, Realtor

Licensed Realtor since 2002, Tampa Bay’s own Rae Catanese regularly gives expert advice and insider tips about the Tampa Bay real estate market via her blog, The Tampa Real Estate Insider. If you are thinking of buying or selling a home in the Tampa, St. Petersburg or Clearwater areas-then this blog is for you. I typically post articles once a week. To make sure you don’t miss my newest posts, you can subscribe here! Have a real estate question? Email me here!

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2 Comments

  1. realtyrae

    Hi Kelli,
    I agree! When there were lines around the buildings and lotterys to be selected as a buyer I was wondering the same thing. Where are the buyers coming from.

    Unfortunately it’s about greed. The more interest from buyers and contracts written the more developers built. Allowed to be built is basically determined by City Council and permitting.

    Then as fast as the boom started, it came to a complete halt. A lot of investors got caught up in the excitement and made bad business decisions hoping to score big on flipping properties.

    The only good news is the buyers right now are able to get great deals and take advantage of our market. Which has been reported to be number 2 in the US for foreclosures. By our market that relates to Tampa, St. Pete and Clearwater areas. Amazing isn’t it?

  2. Kelli

    I am still amazed that all these luxury condos were allowed to be built. Who did the demographics for these banks and builders? Where did they think these buyers were going to come from? And now the taxpayers have to pay for their mistakes. It is an outrage and I hope these companies who overbuilt to a socioeconomic group that does not exist are held accountable.

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