Monday, May 18, 2009

Unknot Update: Prospects Looking Dim, Developer CREI Appears To Have Been KO'd By Greatest Recession

Unknot tower philadelphia winka dubbeldam
Save the Clock Unknot Tower

A definite shame.

CREI is tanking. Their American Loft project is heading for a Sheriff's sale. And the office is mia.

From the Inquirer:
American Loft was to be the centerpiece of a booming real estate empire, an 11-story, 40-unit luxury condominium project at North American and Brown Streets in Northern Liberties.

Now, the 63,000-square-foot, 21st century mid-rise designed by architect Winka Dubbeldam and looming over a hodgepodge of 19th-century rowhouses, warehouses, and vacant lots, is headed to Philadelphia sheriff's sale.

The developer is Gagandeep Lakhmna. His company is CREI - Creating Real Estate Innovations. American Loft is just one of his several projects under way or planned for Northern Liberties, where working-class grit meets urban chic these days and the future seems bright.
[...]
It appears, however, that most of Lakhmna's other projects will not be built, including Q Tower, a 13-story, 24-unit condo building at Second and Spring Garden Streets also designed by Dubbeldam.
Unknot is not mentioned. But the writing is on the wall. CREI was to develop that project as well.

Very disappointing. Both Q and Unknot deserve to be built.

Time to make a few calls.

Who will be Unknot's knight in shining armor?

Related:
Philadelphia luxury condo project heads to sheriff's sale [ Philadelphia Inquirer ]
CREI [ Official Site ]

Previously:
Breaking: Center City To Finally Get Its Sexy On (Architecturally Speaking) Via Awesome Winka Dubbeldam-Designed Unknot Tower of Condo/Hotel Hotness

1 comment:

Anonymous said...

Exactly why do 'Q' or 'Unknot' "deserve" to be built? American Lofts is a monstrosity, a black looming hunk of crap that bears next to no resemblance to the architectural model or drawings that were used to promote the project and which, as the Inquirer article aptly describes, looms over the neighborhood. Everyone I know who lives in the neighborhood (as I do) refers to it as the "Dark Tower." And have you seen the pastel nightmares that CREI has left unfinished in the lot across from the Dark Tower? You know what deserves to be built in the neighborhood? How about some innovative and architecturally interesting buildings that are affordable for real people rather than yet another exercise in vanity and greed by people whose connection to the neighborhood is akin to that of a leach to it's host.