Quote:
Originally Posted by Larry King
After checking out the u3 ventures website... im pretty skeptical tgat this ever happens
These people have never developed anything... they raised 15mm at the height of the market and tied it up at this site I guess...
They appear to be academics, not real estate people... unless they bring in a serious and deep pocketed real estate person as co-developer, I dont see how u3 could pull this off
I live and work in the neighborhood... would love to see this built but my mind is blown by whos behind it
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If they are talking with property management companies, it is probably likely. Every company has to start somewhere. They could be wealthy individuals or children of wealthy individuals looking to break into the real estate game. Or, as Cro said, they could have sold the land, development plans and Planning Commission approvals to another developer. Or they could be partnered with a credible developer. Either way, don't be so quick to dismiss this.