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Article: Corus, a symbol of the building bust, is close to crumbling ; Lender bet big on condos in hot markets only to see them implode in crisis
- Article from:
- International Herald Tribune
- Article date:
- September 11, 2009
- Author:
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Eric Dash
International Herald Tribune
09-11-2009
Corus, a symbol of the building bust, is close to crumbling ; Lender bet big on condos in hot markets only to see them implode in crisis
Byline: Eric Dash
Type: News
The U.S. lender bet big on condos in hot markets only to see them implode in the crisis. Its collapse would cost the government billions.
On the corner of Flamingo Road and Pink Flamingo Lane, beyond the putting green, the crystalline lagoon and the Sawgrass Mills mall, a soaring monument to the great condominium bust bakes under the Florida sun.
The Tao Sawgrass, as the twin-towered complex is known, was built on the western fringes of Fort Lauderdale with easy money from the ...