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rumor: Quadrant Homes canning Gig Harbor development

The_TimThe_Tim
edited December 2008 in Seattle Real Estate
Received this in an email today:
...the ENTIRE GIG HARBOR DEVELOPMENT Quadrant has decided to build no further homes and are walking from development.

Only 8 homes are PENDING...QUADRANT is simply walking away from all the streets, infrastructure, and everything they have already built.
It looks legit, since Quadrant's Gig Harbor website located at http://quadranthomes.com/findyourhome/ridgeatgigharbor/ now redirects to their "find a home" page. (Google cache).

Comments

  • Ouch!Ouch!
    While Quadrant may be walking away, D. R. Horton is auctioning off many of its new properties in the Puget Sound area on Dec. 7th. Condos to SFR, starting bids are half-off the current sales prices. It'll be interesting to see the data after the auction is over.
    http://www.drhorton.com/corp/GetPromotions.do?dv=Y7
  • perfectfireperfectfire
    They are "holding off on further selling". I see an auction in the not-so-distant future. I clicked on the "Live Chat" button on the left of the cached page and talked to an "operator":
    ** I heard that Quadrant is walking away from The Ridge at Gig Harbor, is this true? **

    [Emmanuel]
    Quadrant has decided to hold off on further selling at this location for now.

    [Emmanuel]
    That is all that I know.

    [Emmanuel]
    Sorry.

    [Joel]
    Will they resume selling at a later date?

    [Emmanuel]
    I'm personally still waiting to hear.

    [Joel]
    Oh, ok. Thank you.

    [Emmanuel]
    You're welcome.

  • The_TimThe_Tim
    perfectfire wrote:
    They are "holding off on further selling". I see an auction in the not-so-distant future. I clicked on the "Live Chat" button on the left of the cached page and talked to an "operator":
    I tried doing the same thing, but gave up after the window sat there for about 15 minutes and nobody showed up.
  • mukohmukoh
    DR Horton's auctions though have a caveat in they. They have a reserve on every house. Which is their cost + expenses.
  • deejayohdeejayoh
    Wasn't someone (I think it was Ray) talking about how much demand there was for this development in comments on the blog last year?

    I remember saying at the time that deposits <> sales and receiving some response that basically I didn't know what I was talking about. guess what? Deposits <> Sales!

    I wish you could search the comments on the blog. But then we'd all have things come back to haunt us, I guess.
  • deejayohdeejayoh
    Found it! It wasn't Ray - sorry for the inference. Somebody named "James"

    http://seattlebubble.com/blog/2008/05/1 ... workforce/
    29 James // May 18, 2008 at 7:36 pm

    Dejayoh,

    I'd be the happiest builder in the world if I had THREE potential buyers for every ONE home in my new development....:>)

    Turns out, not so happy after all
  • The_TimThe_Tim
    Confirmed: Quadrant development at standstill
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