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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

This entry was posted on Friday, August 21st, 2009 at 11:32 am and is filed under Vizcayne (Everglades on the Bay), Editorial. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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