Part 7/8:
Finally, in 2004, the project was approved by the city of Pontiac, and construction began. The developers opened a sales center and launched a website, pre-selling units ranging from $350,000 to over $1 million. By 2005, more than $20 million in real estate had already been sold.
However, the 2008 recession hit, and the project's future was put into question. A major funding partner was unable to continue, and the developers were inundated with over 60 lawsuits claiming they owed over $20 million. Construction was paused, and the partially finished structures began to deteriorate.
Foreclosure and Redevelopment