"Construction resumes on some StoryBuilt developments to maximize sale value"
Posted by Grossman & Jones Group on
Austin Business Journal reports, "Construction is picking back up on some projects left incomplete by embattled real estate firm StoryBuilt.
Los Angeles-based Stapleton Group, which was appointed as StoryBuilt's receiver last summer to fix its finances, has resumed construction on some single-family homes in StoryBuilt's $2 billion development pipeline that's up for sale, according to an April 29 report. The goal is to maximize the sale value of the projects. Additionally, an East Austin development site is close to being sold in a deal expected to yield “several million dollars," according to the report.
Stapleton Group "plans to complete the sale of the remaining real estate assets, terminate all employees, complete the construction and sale…
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