Unfinished condos to be sold for $19 million

"Park Sale may lead to refunds for Buyers" - Oct. 30 - Susan Stably of The Business Journal Online Article

Bankruptcy petition filed against The Park (August 19 2008)

Upset Bid of BBSI Bid for The Park Condos (August 8 2008)

 The Upset Bid was filed with the Clerk of the Court for the amount of $18,795,000.00  The Next Upset Bid must be at least $19,734,750.00 by August 18th, 2008. 

(Public Document filed with the Clerk)   (Business Journal Article)

Noon Auction of The Park Condos (August 7 2008)

Bankers Bank was the only Bidder at Noon Courthouse Steps Auction. BBSI Bid at $17.9mm with no other bidders.

(Public Document filed with The Clerk)       WCNC Newscast

Developers Majority Owner Changes Corp. Name (July 22, 2008)

The majority owner of 222 South Caldwell Limited Partnership, the owner of The Park Condos, changes its name from Verna-Woolen Corporation to Verna Corporation as approved by Peter J. Verna Jr., President of Verna-Woolen Corp.

(Public Document)

Construction Notification Update (July 2008)

Bank pre-foreclosure proceedings on stalled Park condos as the Developer defaults on $30.7 million loan, while working with the bank to get refinancing of the project.

Business Journal Article     WNCN News Story   WCNC July 14th Update

WCNC July 15th Court Proceedings Update

Verna Construction Reinstated by NC Corp. (Feb. 2008)

The North Carolina Corporation Commission has Reinstated Verna Construction, Inc. , the Construction Company hired by Verna & Associates, Inc., retained by The Park Condos Owner, 222 South Caldwell Ltd. Partnership. All owned by Peter J. Verna Jr. or Verna-Wollen.  Verna Construction was Administratively Dissolved since May 2005.

Public Document of Reinstatement)

Construction Notification Update (December 24, 2007)

Update views from the Caldwell Street side with the final exterior being prepped for hard coat stucco. The view from the Brevard Street side requires less preparation, as floors 11 to 19 are a majority of open, Charleston-style box bay balconies.

Construction Notification Update (November 12, 2007)

Outside View of the East Penthouse & 21st floor gym. Inside view of the Skylight Pavilion with Uptown Views. Due to the extensive use native wildflowers, shrubs, and trees on the rooftop park, we have submitted an application for the National Wildlife Federations Certified Wildlife Habitat in an Urban Environment. (link)

Charlotte's new $450mm++ Light Rail Blue Line Grand Opening November 24th, 2007. With 2 to 3 stations just 2 blocks from The Park Condos. (Links below courtesy of The Charlotte Observer)

3rd Street / Convention Center/Charlotte Hilton Hotel Station

The Charlotte Bobcats Arena Station   The Westin Hotel/Future Museum District

Peter J. Verna Jr. Retire (October 20, 2007)

Pete Verna -- the most persistent of Charlotte's condo tower developers -- is retiring now that his project is well under way. He's assuming the title chairman emeritus and putting his handpicked successor -- Dave Frailey -- in charge as president of Verna and Associates Inc. Frailey has been with the firm for 10 years. (Click to read the Charlotte Observer story in advance of our internal Press Release)

Construction Notification Update (September 16, 2007)

Construction Notification Update (August 1, 2007)

The Penthouses & 21st floor gym under construction with views of Uptown.

Construction Notification Update (July 2, 2007)

The Steel Frame has reached the top floor and the last steel arch is put in place.

Construction Notification Update (June 17, 2007)

The Steel Frame has reached the top floor. Internal up-fitting has begun with views from the 11th to 14th floor balcony's on all sides of the building. The new 10 mile long, $467mm light-rail is in the background undergoing final testing prior to November opening and will have two stations less than one block away.

View from the 9' x 10' oversized balcony

View of the true size of the balcony's. Enough room to enjoy life! The left photo shows a view of  the Townhome Condo with one 9' x 10" balcony on the upper bedroom level. You are able to look below to the full size 9" x 19" balcony on the living area level.

The Right photo is the view of the large central hallways.

Construction Notification Update (May 3, 2007)

The Steel Frame has reached the 18th floor.

The Park Condos makes Charlotte's 1st Connexion

Charlotte, N.C. March 16, 2007 – The Park Condos, Uptown Charlotte’s most upscale mid-rise residential project, announced a partnership with Connexion Technologies to provide optical fiber infrastructure to the entire building. The Park will be the first condo building in the metro Charlotte region with the latest in fiber connectivity. The Park will have the same technology as the tallest & newest Miami condo towers such as ICON Brickell, Harbour House at Bal Harbour, Apogee at South Beach. (Link to full story)

Construction Notification Update (March 7, 2007)

The Steel Frame has reached the 13th floor with beam supports placed for floors 14 to 16. Views from the 9th floor looking at the skyline. (First Condos start at the 11th floor)

Design Center Ready for Owners Final Selections

Construction Notification Update (February 12, 2007)

Construction on The Park Condos is on schedule. The Steel Frame has reached the 12th floor with supports to the 14th floor. The concrete has been poured to the 8th floor.

Construction Notification Update (December 18, 2006)

Construction on The Park Condos is on schedule. The Steel Frame to the 21st floor should be complete by May 15th, 2007.

Construction Notification Update (Nov. 21, 2006)

The final assessment of the November 17th incident has been finalized. No structural damage and only minor physical damage to the building is being reported. The damaged mobile crane has been removed and the site is in the process of restarting construction. Buckner Steel Erection & Cranes will have a permanent crane on-site starting December 4th and by December 8th, the crane will be ready to restart the steel erection. The crane will stay in place until the 21 story project is complete. Verna Construction, Buckner, Southern Steel and a host of others responded quickly to review, plan and restart the construction of The Park Condos. Buckner Steel Erection stands by its past safety performance, earning them recognition on a regular basis, with such successful projects as the Charlotte NBA Arena.

(Click to see full Rendering)

Since The Park Condos building Core/Shell is primarily made up of structural steel, shop drawings have been finalized and the steel contract has be let to Southern Steel of Charlotte, NC. (Engineering, Fabrication, Erection of Steel). Once the Steel arrives, the frame of the 21 story tower will go up quickly, unlike concrete structures. (Link to Southern Steel)

Grand Ground Breaking on The Roof (May 13th - 11 am to 3pm)

Official Construction Ground Breaking at 2 pm with North Carolina OSHA Director and Mayor Pat McCrory

(Click any underlined word to View Construction Updates)

Currently, the 4 existing floors are undergoing extreme upgrading of the structure, converting the 1st floor to the Grand Mezzanine / 2500 SF of Mixed Use space and a new Entrance/Exit off of 3rd Street. Most of the activity is within the structure.

 Construction Update #6 - Construction Update #5

Construction Update #4 -  Construction Update #3

Construction Update #2 - Construction Update #1

Release of Final Units to the General Public - - Feb. 18, 2006

Construction Update - Jan. 30th, 2006

DEVELOPMENT / DOUG SMITH - January 8th, 2006
Permit for Park tower ends all doubt (Link to Charlotte.com)

Way Before Its Time? Now its a reality! Construction to begin on The Park Condos! - December 29th, 2005
 

Co-Developer Joins The Park Team! - October 28th, 2005

Has Developed & Built major high rise office buildings—from multi-family to condominiums to retail projects over the last 17 years in Texas, Florida, Colorado and North Carolina. Developed, leasing, sale and management of more than 7,500 units.

Thirty-One Story Upscale Condo  & Hotel Project - Texas.

On The Radio Radio Commercial

History In The News
The Charlotte Observer - High Rise Homes Part Two

The Charlotte Observer - High Rise Homes Part One

The Charlotte Observer - Building Pushes Uptown on Up     

DOUG SMITH - Charlotte Observer Article 
The Charlotte Business Journal
The Charlotte Observer - Cry for Uptown Condos Climb

4 Million Hits to TheParkCondos.com website! -  July 25th, 2006

Why Live at The Park Condos in Uptown?

Located in the city’s Second Ward, The Park will be a 21-story high-rise built atop an existing four-story parking deck at Third and Caldwell streets.  The Park’s distinguishing characteristic will be a 10,593-square-foot rooftop park on the 20^th floor, featuring a skylight pavilion, lush gardens, walking trails, a putting green and a swimming pool.  A fully equipped fitness center will comprise the 21^st story.

The Park’s neo-classic architectural design, influenced in part by old-style Chicago skyscrapers, will incorporate granite, stucco and brushed-metal exterior accents.  Charleston-inspired box-bay balconies and spacious terraces – up to 470 square feet – will accent the Park’s refined style with a distinctive Southern elegance. 

             When complete, the building will have nine residential levels in addition to the 20^th-floor park and 21^st-floor fitness center.  Resident storage and secured parking will take up floors 5 to 10 and beneath that, with be reserved parking during business hours for corporate tenants. Nights and weekends all condos tenants will have access to the reserved parking on the lower floors. Approximately 2,000 square feet of upscale street-level retail will serve both The Park’s residents and the city’s daytime populace.