A 74-unit project in South Beach is on the ropes now that its development LLC, helmed by Thompson Development and West Bay Builders, has filed for Chapter 11, reports the SF Business Times. Designed by SB Architects, 72 Townsend was destined to be one of those glassy-blocks-on-top-of-old-warehouse projects, not unlike the Martin Building project just down the street at 178 Townsend. Should the latest development team hit the road (Lambert Development owned the project before they did), the project's still entitled and ready to build... if there's anyone out there with that kind of cash to throw around, anyway.
· 75 Townsend developer files for Chapter 11 [SF Business Times]
· Development du Jour: More Condos at 72 Townsend Street [Curbed SF]