The Real Estate Wonk: Columbia condo tower might not get built - Baltimore homes, apartments, real estate: Buying, selling, renting and housing news from reporter Jamie Smith Hopkins

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November 14, 2007

Columbia condo tower might not get built

June Arney has a story today about how the housing market is spelling trouble for the 23-story condo tower planned for downtown Columbia.

The developer, Florida-based WCI Communities Inc., "insists that the project is solid despite financial problems that caused it last week to announce 575 job cuts -- about a quarter of its work force," Arney reports. But others are skeptical, noting that the company is losing money and will face pressure from lenders.

"I would be shocked if WCI could actually go forward with that tower in Columbia, Md.," said Susan Berliner, a senior managing director and analyst at Bear Stearns Co. who follows the company and the homebuilding sector. "To me, there's no way it's going to get built."

Posted by Jamie Smith Hopkins at 9:53 AM | Permalink | Comments (1)

Comments

But don't they know about BRAC!?!

Just joking. It really isn't different here.

Posted by: sam | November 14, 2007 11:53 PM

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About Jamie Smith Hopkins

Jamie Smith Hopkins, a Baltimore Sun reporter since 1999, writes about the regional economy. Her reporting on the housing market has won national and local awards. Hopkins is a Columbia native and has lived in Maryland all her life, save for 10 months spent covering schools in Ames, Iowa.
She trained to become a wonk by spending large chunks of time as a geek and an insufferable know-it-all.
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