There are many new condominium projects on the market in Philadelphia. Many have been quite successful, others are struggling as the market tries to absorb all the new units. And then there are some buildings where "bad" isn't a strong enough word to describe the situation. Check out this article about a Northern Liberties building from Philadelphia Inquirer real estate columnist Alan Heavens to learn more.
And if that's not enough, Mr. Heavens wrote a piece for today's Philadelphia Inquirer on another troubled building involving the same developer. Shame about both of these projects which brought some very cool architecture to the Northern Liberties and Old City areas. Even sadder are the number of people -- buyers, contractors, banks -- affected by this debacle.
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