It has been awhile since we last posted any status updates. As is well known, the development industry has been in a bit of an upheaval in the last couple of years, particularly the financial markets. We here at Ecosphere have been patiently awaiting the market to get better.
Midori is still a very active project. We have been working on finding ways to fund the development, from traditional banks to non-traditional sources. All we can say at this point, is we are still working on it. Our hope is to break ground in the spring of 2011.
We are caught in a bit of a catch-22. To get lender interest, obviously they would like to see some strong pre-sales. Of course, in order to get those pre-sales, buyers want to be assured the project will get built in a timely manner. We do continue to get buyer interest in the neighborhood.
If you are interested, and would be interested in a lot reservation (fully refundable), please contact Lara at The Green Team.