This is the second update about Acqua condo for this year and I can tell you off the bat that things are very quiet there. I drove there today and haven’t seen much construction activity, despite the presence of two large cranes.
I would like you to keep in mind that this development was presented on March 14, 2007 and ground braking was on May 16, 2008. Now, over three years after it was announced, not one tower has been completed. When the project was presented the developer said that the construction of the first building – Sabbia – is to be delivered in the second quarter of 2011. I think this time frame is highly doubtful.
Truth be told, they had to deal with labor issues (permit for the foreign workforce) but this cannot be the reason for the massive delays. Obviously I don’t manage their sales figures but the last I’ve seen was a massive Worldcup discount of a whopping 20%. This translates in a discount of about $50K for the smallest unit.
I know that there’s a structural shortage of news about these developments, let alone independent news. I’ll keep you posted.