From what I understand, Ken, the young guy, married the older woman (yes, it’s his wife, not his mom). Her father had a hotel in Vegas, which she inherited. They sold the hotel and started building in Mission Beach to make it the West Coast Miami. They made money off what they sold during the boom. I imagine that is what is keeping them afloat while they wait for suckers to buy what’s built. I don’t know how long they can ride it out.
This is hearsay. My sources are somewhat reliable.
Armstrong Construction is hurting. He has NODs on the condo development on Felspar behind Henry’s and also on Grand. This is confirmed info.
