The Dominoes Start to Fall: Everglades on the Bay Goes Bankrupt
While just yesterday I was notified that the mostly vacant Everglades on the Bay Condo was FHA approved today an article in the Miami Herald confirms the rumor I had heard several weeks ago regarding the financial difficulties that Cabi Developers & the Everglades on the Bay project were having and that bankruptcy was imminent. I believe this is just the first of many large developments that will be hit with bankruptcy filings - all of the buildings that have “closed” in the last 1-2 years are in serious danger, and that is staggering number.
Everglades on the Bay developer files for bankruptcy - Miami Herald article link
