'Bad timing' dooms large housing proj...

'Bad timing' dooms large housing project; group defaults on $6 ...

There are 8 comments on the The Gaston Gazette story from Oct 12, 2009, titled 'Bad timing' dooms large housing project; group defaults on $6 .... In it, The Gaston Gazette reports that:

A partially-developed subdivision on the former site of the Eagle Mill in downtown Belmont has been turned over to Sun Trust Bank in foreclosure, after the developer defaulted on a $6 million debt.

Join the discussion below, or Read more at The Gaston Gazette.

Ridiculous

Raleigh, NC

#1 Oct 13, 2009
Sounds like to me they are blaming Harding Stowe for the big bad idea?!

What a joke! These people failed because they talked to the property owner and not prospective buyers. No one in their right mind would buy into here and the ones sold were pre-sold.

Now what? We have to look at this mess forever? It sure ain't worth finishing an ill fated project and no way is it worth 6 million!!
Tillman E laDino

Monroe, NC

#2 Oct 14, 2009
Ridiculous wrote:
Sounds like to me they are blaming Harding Stowe for the big bad idea?!
What a joke! These people failed because they talked to the property owner and not prospective buyers. No one in their right mind would buy into here and the ones sold were pre-sold.
Now what? We have to look at this mess forever? It sure ain't worth finishing an ill fated project and no way is it worth 6 million!!
What are you drinking?? where in the article do you see Stowe being blamed? This is the legacy of slavery and the white man's injustice to black America-chickens coming home to roost, baby.

Since: Mar 09

Belmont

#3 Oct 14, 2009
injustice to black America and slavery caused this project to fail. WOW. I never knew, I thought it had something to do with the lousy economy.

It is truly amazing what wonderful facts you can find on Topix.
au courant

Charlotte, NC

#4 Oct 14, 2009
Its a definite implication as intended in the expository tone of the article. A fairly simple piece of muckraking for a fared simple mind.

Harding likes them donkeys with daddy's money. The Liberal in the family? LOL.

Man I would be kicking Robert for stirring up the peasants with a charging ride astride horse with hound as a gentleman of old, one of the fabled Captains of Olden.

Hey, "on paper" it was a hell of a deal;) Suntrust shouldn't be heading their heads low. Coulda been anybody's turd in the punch bowl. Problem is, will a similar fate await future projects? Scary.

Nobody needs to beat themselves up.

But Easter egg village is like WTF! My freaking dog could done better with his paws in the paint.

Back in the day, I woulda rolled the dice too. I bet the Pressleys are licking them wounds.

The next six months will see some big ones go down.
au courant

Charlotte, NC

#5 Oct 14, 2009
Six Million? really? ouch!!!

Fire sale it for half maybe in a year or two? They might wait awhile in OREO but damn, they ain't that big, and these things aren't isolated.

Ouch!

Ding Ding!
Tillman E laDino

Charlotte, NC

#6 Oct 14, 2009
belmontboy wrote:
injustice to black America and slavery caused this project to fail. WOW. I never knew, I thought it had something to do with the lousy economy.
It is truly amazing what wonderful facts you can find on Topix.
Stick with me, BB, I'll complete your education the Ebonics way!!

Since: Mar 09

Belmont

#7 Oct 16, 2009
au courant wrote:
Its a definite implication as intended in the expository tone of the article. A fairly simple piece of muckraking for a fared simple mind.
Harding likes them donkeys with daddy's money. The Liberal in the family? LOL.
Man I would be kicking Robert for stirring up the peasants with a charging ride astride horse with hound as a gentleman of old, one of the fabled Captains of Olden.
Hey, "on paper" it was a hell of a deal;) Suntrust shouldn't be heading their heads low. Coulda been anybody's turd in the punch bowl. Problem is, will a similar fate await future projects? Scary.
Nobody needs to beat themselves up.
But Easter egg village is like WTF! My freaking dog could done better with his paws in the paint.
Back in the day, I woulda rolled the dice too. I bet the Pressleys are licking them wounds.
The next six months will see some big ones go down.
What a bunch of malarky. sounds just like the BS that TB always spouted. A new name and the same crap. Oh boy.
Dr Mercedes Benz

Charlotte, NC

#8 Oct 17, 2009
Yes, it is full of color pictures and flowered language which I admit is indulgent of me. But who can resist such a beautiful picture to paint. One so strikingly yet ethereal in its truthfulness.

Yes, the market timing was bad but so was the project. Along with others.

Yes, I realize that when others blew up towns it seemingly happened over night but this is not the case. It took many years of root development, green shoots sprouting, to take hold of true momentum.

Now, is when men are made;)

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