Charlotte Observer Headline: Vue Headed For Foreclosure

Kerry Singe, business reporter for the Charlotte Observer,  jumped back into the Vue Charlotte fray with an informative article for us pre-sales buyers but unfortunately the news was not good. According to the article and lawyers Kerry has talked to, pre-sales buyers are probably out of luck as any new owner has no obligation to pay them back.

Our very own Rob Cummings is quoted as saying the current owners are worried about the building turning to rentals. I think that is a worry, but I hope not too much of one. As I have mentioned before, folks very knowledgable that have contacted the blog on real estate matters believe the building will command high-end rents and the clientele will be the same as it was originally intended to be. These high rents will tide things over for a few years until buyers come back.

It’s mentioned that Dan McLean of MCL promised the Vue would never go to rentals. For the current owners this may turn out to be the final of several promises that he simply was never able to keep.

Have feedback? Please write to Vuebuyer10@yahoo.com.

 

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