Abandoned Riverfront Luxury Development [[Lenox Estates?)

[hybridy]

wondering if anyone knows the history of this oddity.

https://goo.gl/maps/1skPTY7TvzA2

west side of lenox street there are foundations for 6 large homes on a private drive parallel to lenox. when completed they would appear to have had 3 car garages, walk-out basements, circular driveways and direct river access.

loveland show this parcel as city owned:
https://makeloveland.com/us/mi/wayne...detroit/301432

colliers also says its for sale, and includes morgan waterfront estates:
https://www2.colliers.com/en/Propert...124/USA1026363

[swingline]

Is it correct to conclude from the marketing materials that the Morgan Estates developer built all those listed homes and condos on spec and still owns them all these years later? [[Most of that stuff was built at least 5-6 years ago, maybe longer.) I've been in the neighborhood and it seems that all of those huge single family homes are occupied and one naturally assumes that they are individually owned. Are the homes listed in the materials merely being rented at this time? Even the two monsters at the end of the street? That seems unusual to say the least. Did the developer find some kind of long term financing after construction loans expired? The financial numbers must be working out somehow for the past few years because the development seems to be maintained at a pretty high level and that takes money.

[EastsideAl]

That area on Lenox is where the line of Fisher mansions once stood. Only one left is the long-time Krishna house at the northern end. I think the whole project went belly-up in the downdraft of '08, like the nearby and never-completed Morgan Waterfront Estates that I believe were by the same developer.

[hybridy]

ahh the listing has some details:

https://listingsprod.blob.core.windo...f-ae95e21ca22d

included in sale @ 20 mil:

-19 McMansions in Morgan Waterfront Estates [[the rest under private ownership)

-78 condos [[partially complete)

-future phase 48 additional condo units

- Lenox Estates land