Orlando-area developer Kevin Azzouz b...

Orlando-area developer Kevin Azzouz battles bank over Veranda P...

There are 93 comments on the Orlando Sentinel story from Jul 1, 2008, titled Orlando-area developer Kevin Azzouz battles bank over Veranda P.... In it, Orlando Sentinel reports that:

Kevin Azzouz , the developer best known for trying to upgrade MetroWest with a $400million Italian-style village center called Veranda Park, is facing financial troubles over the project's condominiums.

Join the discussion below, or Read more at Orlando Sentinel.

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Cruddy Buddy

Orlando, FL

#91 Jul 3, 2008
Your Real Buddy wrote:
<quoted text>
Hey Crooked-Cruddy Buddy, sarcasm is the lowest form of humor. Are you trying to be funny? I hope not since you're coming off like an a**hole idiot. If you're gonna accuse Buddy of wasting tax dollars how about some facts. Got any? I doubt it.
"Facts" or "Evidence"
Have you heard of Cameron Kuhn - one of Cruddy Buddy's bankrupt friends and downtown developer. That was another fraud/scam against the people/taxpayers of Orlando. How many $$MILLIONS$$ did Cruddy Buddy give away there? AND THAT AIN'T NO JOKE. IT IS GREEDY AND EVIL! Like most of those elected public office these days.

I rest my case!
news listener

Port Orange, FL

#92 Jul 3, 2008
I'm pretty sure Donald Trump went bankrupt at least once. Not that this guy is anywhere near the Donald but nothing good gets built by the guy who owns a 7-11 or rents a store front for her card shop.
Boom and bust real estate is the way it goes. All you morons who think this is the end of the world apparently can't learn or make short term memories any more.
Pick up a book and learn how America was built - especially you "Liberals hate facts". Fact is: America was built on speculation and greed. And you putting quotes on the word bank shows how much of a paranoid freak you are. How many people were employed for years at those 600 stores? [email protected]
Molly

Ocoee, FL

#97 Jul 5, 2008
Let’s see if I get this straight in regards to your front page article on Mr. Kevin Azzouz. He has a building full of condos that he is trying to sell, and this building is mortgaged by Wachovia bank. He keeps trying to pay the mortgage, and has the means to do so, but Wachovia doesn’t want his money--they want to foreclose on his building because they want the loan off their books. What kind of Snidely Whiplash scheme is Wachovia trying to pull? Doesn’t this amount to legalized theft? And if Wachovia can do this to a developer like Mr. Azzouz, who has been trying to improve Orlando and bring some culture, entertainment and lifestyle to the area, then what is to become of the rest of us average Joes? I’m going to encourage my silver-haired mother to take her banking elsewhere, and I will certainly not consider Wachovia for MY banking!
Molly

Ocoee, FL

#98 Jul 5, 2008
After my initial post went through, I found all of the other posts made, particularly by a poster named "Accept Defeat." I decided to find out more of what you all were talking about, by reading the other stories about Mr. Azzouz that the Sentinel had posted. I discovered that his father came to this country from Iraq in 1958 and worked very hard to support his family in America. Obviously, if Mr. Azzouz's father came here in 1958 and he is only 44 years old, that means Mr. Azzouz was born in America. Now, as I recall, in 1958, America enjoyed good relations with the Iraqis. Then I read that young Mr. Azzouz caught nutria rats in the swampy Bayous of Terrebonne Parish, Louisiana where I once lived myself, and built a church there during the time he was catching these giant rats. The conjured image made me smile.

So I'm kind of confused about how "Accept Defeat" comes up with this idea that Mr. Azzouz, by virtue of his father's birthplace, is automatically a "half-terrorist" and "half-Al Qaida"? Besides, I didn't think there were any such things as "half" in those cases--it's like being "half-pregnant." But where is the evidence of this association with our country's enemies?

Mr. Azzouz has done nothing but build up our community with grand ideas, which are similar to projects done in Palm Beach County (which I might add have been very successful in reviving that community.) Has Mr. Azzouz made threats against America? I see no evidence of that. Has Mr. Azzouz blown up buildings with jet airliners? I see no evidence of that. So why do you think he is a terrorist?

Personally, I despise bigotry and ignorance, the evidence of which I see in "Accept Defeat's" posts. As I study the newspaper's description of Mr. Azzouz's Veranda Park, I can see that CityPlace of Palm Beach County must have been an inspiration for it. My family and I have enjoyed the shopping, entertainment, restaurants and Euro-styled atmosphere of CityPlace. It's a great place to hang out on a weekend. If Mr. Azzouz can create in Orlando (with Veranda Park) the same success that CityPlace has created in Palm Beach County, then I think we should all support his efforts. It will be a tremendous boon to the community.

I'm from the hippie generation, so I have a healthy mistrust of government and the industrial-military complex, but I'm also smart enough to tell the difference between a corporate pig and someone who truly wants to create something great. It seems to me that what Mr. Azzouz is trying to create is in the Orlando community akin to corporate artistry, and he apparently takes pride in his work to get things done right in every detail. I wonder if "Accept Defeat" can say the same things about the work he has done in his life? Has "Accept Defeat" done anything to improve our community? I doubt it.

Besides, I think you are all missing the big picture here in how the Wachovia Bank is operating in an underhanded way, and apparently getting away with it because of how corporate laws are written and enforced by the Federal Reserve. If anyone is a terrorist or villain here, it's Wachovia Bank! As Henry Ford tried to warn Americans back in the days when the Federal Reserve was created, "If Americans knew what the Federal Reserve was all about, they would revolt overnight."
furious

Austin, TX

#99 Jul 5, 2008
liberals hate facts wrote:
That's the precise type of ignorance that MOST Americans have.
What you have failed to understand is that those who have HAD success, are EXACTLY the ones who should be 'propped up' by banks, investors, and even cities and counties!
The problem with our society today is that TOO FEW entrepreneurs with a TRACK RECORD of moderate success, are not able to get the financing needed to CONTINUE their success! Instead, most 'banks' and 'investment' houses mostly give their funds to operations where THOSE WHO BUILT THE SUCCESS ARE NO LONGER INVOLVED IN THE DAY TO DAY OPERATIONS!
The guy who started his lawn care business and now had 5-10 employees, lots of accounts, and multiple vehicles on the road....should be SUPPORTED with more funds to make it grow! Same goes for the mom and pop pizza shop that everyone loves. If they are doing well, systems and 'coaches' should be available for THEM to expand! It's THAT size business which needs to expand! Not the behemoth faceless-franchises or large corporations!
Who should get coaching? The small flower shop which has shown that they can service an area for 5-10 consecutive years?.....or the mega-coffee chain who now announces that they DIDN'T KNOW WHAT THE HELL THEY WERE DOING--and are going to shut down 600 stores?
Do I need to go on?
There's HUNDREDS of 'Starbucks' examples of large corporations who ran their business in the ground because they weren't focused on what they needed to be successful!
Yet there's MILLIONS of small-to-moderate size businesses which NEVER get access to the funds they need to expand.
And if you think the SBA is a 'solution'......then you've obviously never worked with them.
Hey Liberal hating idiot.... I thought all you all were inlove with less government and free market solutions.. cuzz this here all seems like the Free market is doing its thing... spelled foreclosure.
case closed
furious

Austin, TX

#100 Jul 5, 2008
Molly wrote:
Let’s see if I get this straight in regards to your front page article on Mr. Kevin Azzouz. He has a building full of condos that he is trying to sell, and this building is mortgaged by Wachovia bank. He keeps trying to pay the mortgage, and has the means to do so, but Wachovia doesn’t want his money--they want to foreclose on his building because they want the loan off their books. What kind of Snidely Whiplash scheme is Wachovia trying to pull? Doesn’t this amount to legalized theft? And if Wachovia can do this to a developer like Mr. Azzouz, who has been trying to improve Orlando and bring some culture, entertainment and lifestyle to the area, then what is to become of the rest of us average Joes? I’m going to encourage my silver-haired mother to take her banking elsewhere, and I will certainly not consider Wachovia for MY banking!
Molly,he didn't have a mortgage that goes on for 8-10-20-or 30 years.
The article says he had a 30 month mortgage. At the end of the 30 months, he is supposed to pay back all the interest and the principle. That's the deal he agreed to.
There's no Snidleywhiplash or underhanded thing.
His mortgage is due.. actually, it's been due for months.
Tell me under what legal logic can a person force a bank to enter into a new mortgage if they don't want to?
liberals hate facts

Orlando, FL

#102 Jul 6, 2008
furious wrote:
<quoted text>
Hey Liberal hating idiot.... I thought all you all were inlove with less government and free market solutions.. cuzz this here all seems like the Free market is doing its thing... spelled foreclosure.
case closed
I never said anything about government assistance.....I spoke of banks.

Get some reading comprehension skills.
I Live In Metrowest

Windermere, FL

#103 Jul 8, 2008
Veranda Citizen wrote:
I live in Veranda Park. I read the comments on this blog and most of what I see is a bunch of idiots writing about stuff they don't know about. For example, the tax rebates are a reward for raising tax base, not a giveaway. Azzouz has easily created more than $200 million dollars of increased value in MetroWest. Higher value means better tax income for the city. Dyer didn't GIVE anything away. He incentivized better development. If Dyer hadn't done this in 2003 there would have been a very different outcome for MetroWest.
Then you must be the only one that lives in there. I think I do see one light on in there. I had heard that a few select employees were living in there. I guess as part of the benefits package.

Yes, Metrowest would have had a different outcome. Your increased revenue for the city also meant increased taxes for the residents that already live here and are planning to live here after the "developer" has gone. The only one that wins with the inflated property values are those wanting to sell. Run in and buy when prices are low, artificially create an inflated value, and then sell and reap a huge profit.

Well I think you got caught early with your pants down by a tough economy and some aware citizens.

Metrowest will survive, I dont know if Veranda Park as we know it will though. If the project goes bankrupt, then a new developer will come in and finish it. The investors take the hit, not Azzouz. He's protected by a Corporation. He'll just form another and maybe even try to buy it in foreclosure with a new company.

Now if we can just take back control of the Master Association and get the city to roll back the property taxes to where they should be, then we can all afford to continue living here.

For the record, I do not want to see Metrowest fail, I just dont like being robbed and played for fools.

There is more here than what is being said here.
MetroWest Longtimer

Winter Garden, FL

#104 Jul 9, 2008
I Live In Metrowest wrote:
<quoted text>
Then you must be the only one that lives in there. I think I do see one light on in there. I had heard that a few select employees were living in there. I guess as part of the benefits package.
Yes, Metrowest would have had a different outcome. Your increased revenue for the city also meant increased taxes for the residents that already live here and are planning to live here after the "developer" has gone. The only one that wins with the inflated property values are those wanting to sell. Run in and buy when prices are low, artificially create an inflated value, and then sell and reap a huge profit.
Well I think you got caught early with your pants down by a tough economy and some aware citizens.
Metrowest will survive, I dont know if Veranda Park as we know it will though. If the project goes bankrupt, then a new developer will come in and finish it. The investors take the hit, not Azzouz. He's protected by a Corporation. He'll just form another and maybe even try to buy it in foreclosure with a new company.
Now if we can just take back control of the Master Association and get the city to roll back the property taxes to where they should be, then we can all afford to continue living here.
For the record, I do not want to see Metrowest fail, I just dont like being robbed and played for fools.
There is more here than what is being said here.
You're obviously one of those angry people who show up at the HOA meetings and complain about your dues being raised by $12 per month. MetroWest is the safest, nicest place to live in southwest Orange county because we all pay a few dollars a year in dues. When I lived in Miami the HOA "slash and cut" idiots got ahold of our HOA and within a year practically destroyed the neighborhood. HOA commandos are sad people always crying that the sky is falling and someone is screw*ng them out of their "dues." We pay very little here in MetroWest and that's mostly because our total annual budget is spread out among so many people. WAKE UP AND SMELL THE COFFEE: the vast majority of residents here don't want you to get control of our HOA and turn it into your little power play. We DONT'T WANT you to cut security and off-duty police patrols. We DON'T WANT you to cut our landscaping. We DON'T WANT you controlling the value of our homes by destroying the best part of MetroWest. Who appointed you? The few of you who live in one of the "gated" subdivisions? The next time I see the hairy, fat, slovenly guy at one of our HOA meetings talking about how we all need less security, less landscaping, less maintenance, less of everything I'll stand up and tell him to shut up. I'll no longer be silent.
AnotherMetrowest Resident

Windermere, FL

#105 Jul 9, 2008
Oh, not angry. Just concerned. Yes, I am concerned about $12 a month, and so are a lot of other residents I think.
I don't have a problem with security either, but isn't that what we pay city taxes for already?
It is mighty convenient that our "Metrowest Police" can always be found in Veranda Park, most of the time guarding the construction site?
How is that security for us that lives in Metrowest? I never see any of our Special Police answering any calls in the neighborhood, only the regular patrol officers. What do they do exactly other than sit in their cars on the construction site and watch movies?
It seems you are wrong about the vast majority of the residents, but how can we know if we can't elect the members to the Master Association Board. They get appointed by "The Original Developer". Funny how that came about. Seems to be the same individual that appointed himself ruler of the area.
I'd be more than happy to discuss the landscaping, the dues, the budget, whatever with you sometime at Sol River. Great Place! I'm there a lot, just tell me when. Or we can discuss it right here. At least let's discuss it.
I don't think you have to worry about me controlling the value of your home. It appears the market is taking care of that. Now let's work on the taxes and HOA Fees. Like I said, the value is only important when you want to sell. I plan to live here awhile and can ride the ups and down of the market, if I can afford the rest.
I do appreciate your comments though and respect your opinions. We welcome you to speak out at the HOA meeting, if you would show up. We welcome input. But I can tell you, if you just want to tell someone to "Shut Up", then we'll throw you out.
We already have control of the board.
Who appointed me? The people, in what we call an election. See you there!
Concerned Too

Windermere, FL

#106 Jul 9, 2008
MetroWest Longtimer wrote:
<quoted text>
... When I lived in Miami the HOA "slash and cut" idiots got ahold of our HOA and within a year practically destroyed the neighborhood. HOA commandos are sad people always crying that the sky is falling and someone is screw*ng them out of their "dues." We pay very little here in MetroWest and that's mostly because our total annual budget is spread out among so many people. WAKE UP AND SMELL THE COFFEE: the vast majority of residents here don't want you to get control of our HOA and turn it into your little power play. We DONT'T WANT you to cut security and off-duty police patrols. We DON'T WANT you to cut our landscaping. We DON'T WANT you controlling the value of our homes by destroying the best part of MetroWest. Who appointed you? The few of you who live in one of the "gated" subdivisions? The next time I see the hairy, fat, slovenly guy at one of our HOA meetings talking about how we all need less security, less landscaping, less maintenance, less of everything I'll stand up and tell him to shut up. I'll no longer be silent.
It is clearly obvioius from your comments your position.

Came From Miami (That's a clue!)
Against HOA Commandos (Power of the People)
Talking about "our" budget (who's budget?)

And what gives you control as the only only resident of Veranda Park? Do you even have an HOA yet? What are the dues in there anyway? Do you even pay them yet? We all pay into our own HOA and the Master Association takes over 46%.

I'm concerned too!
news listener

Port Orange, FL

#111 Jul 10, 2008
Accept defeat wrote:
<quoted text>
Ah, Fred Khalilian. His trial should start soon. One thing about Iran is they execute this garbage in public. If you google Iran and look at the photo results, you'll see the bodies hanging from where they've put these rapists to death and left them as a warning to others. Us Americans are too forgiving and kind hearted. We need to take this trash to the street and let the public have their way.
You're a complete fuggin moron. 1 post about how one guy is an al-queda supporter and another about how you love Iran. Dumbass.
Been to Italy too

Palm Coast, FL

#114 Jul 22, 2008
Peer Review wrote:
Boo hoo, another inept developer trying to pick up the pieces from his inability (that's always someone elses fault) to run and finance a project.
I just came back from Italy....I didn't see anything there that looked like that piece of junk-i-tecture this guy built. What a joke.
What an idiot who obviously had his eyes closed while in Italy or has never stepped foot on Veranda Park.

Of course Veranda Park is not 100's of years old.
But the murals and stone work is authentic and beautiful. The outside is painted with lime based paint that will look even better as it ages, no stucco and real marble moldings.
The floor mosiacs are hand done.

Azzouz may not have a big bankroll at the moment but one thing he does has is refined taste.

Windermere should open their eyes as well if they could have their way they would probably put a fence around the whole town to keep all of us undesirables out

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