Laurel Bay is another apartment conversion although this property was built to very high standards so it would probably be more like a Cityfront Terrace type of conversion. That said the project has had tough times and to my knowledge the original developer, Hammer Ventures, has been removed from the active management of the conversion.
This particular property has taken a big hit and is listed well below the developer sales price from 2005.
Type: Listed on MLS(#076031743)
List Price: $497,000
(Range priced $485,000 to $509,000)
Loss@6% Sales Expenses: $118,810
Purchase Date: 11/18/2005
Holding Period: 17 months and counting...
Square Feet: 924
Purchase Details: view