What Went Wrong?

Local real estate professionals are all scratching their heads and wondering: What went wrong with Las Ramblas? It had appeared that the group mainlining the condos project had it all.

There were experienced development teams with Related and Centra, a great architectural design, splashy interiors, and a Hollywood heavy weight backer in George Clooney. Also the man, Rande Gerber was called upon to operate and design a series of nightclubs, restaurants and lounges within the development.

The plans had called for over 4,000 hotel, condos and condo-hotel units in 11 high-rise towers, with a 40,000 sq. ft. casino, shops, a spa and various eateries.

Experts say that while Las Ramblas was too big and costs too much money, this was not the killer for the project. The killer was that it was being developed at time when rival projects were being planned nearby. Condo buyers have become more savvy about the way they invest their monies into high rise projects.

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