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Developers versus pre-sale buyers: Round 4 or is it 5?

March 5th, 2009 · 9 Comments

As the Pappajohn brothers desperately look for ways to salvage their Jameson House tower project downtown, they’ve found themselves fighting not just to get financing but also fighting to keep their unhappy pre-sale buyers on board. Derrick Penner’s story in the Sun this morning details the current state of legal affairs among all the parties — an object lesson for other developers about the fate that potentially awaits them if their projects get to the same state.

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