Centerpoint Condominiums is looking to receive the second and final installment of $2M of the $4.8M it was agreed to be paid in a hearing before the Mortgages Limited bankruptcy judge in December. The developer is also hopeful that a deal will finally be done allowing for a new lender to take a “first lien” position and provide Centerpoint with the estimated $70M still needed to complete the high profile project. If this happens, the developer believes that construction could begin again in January 2009 and buyers would be able to begin moving in as early as April 2009.
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