[Belk Place: Carolina Theater and Hotel Intercontinental]

So, how did that review of financials work for everyone ? He convinces the city he's viable and less than 30 days later files for bankruptcy ? Yes, I know, different corporations but still the same principals; Pursuit won't get financing from any lender now or in any foreseeable future. Are there any updates/news/gossip about this project lately ?

[Belk Place: Carolina Theater and Hotel Intercontinental]

The banks are not shutting down with people and businesses that are credit worthy and who are not getting into marginal deals. In addition, the smaller banks and credit unions, which have not participated in the shady unethical dealings of the large banks, are continuing to do business as usual. If you go into one of these places and meet their requirements for a loan, you will get said loan.

Now on the subject of the Encore. I would guess that not many financial institutions would deem that to be a credit worthy enterprise since it this is a project that makes no sense for Charlotte. It is a demonstration of excessive wealth in a place where such demonstrations are now subject to derision and criticism. It's become the Hummer of housing and I suspect that is the real reason it won't be built.

Yes, banks are shutting down people and businesses that are credit-worthy and who are not getting into marginal deals. I know this from a very painful first-hand basis. If Encore can't find financing, and if I could still afford the ranch I'd it that they can't, it's not because it's a "demonstration of excessive wealth" but because banks just aren't going to loan to anyone for anything.

Encore required a 5% down payment and that was called a "sale" or "contract". To any lender, those aren't worth the paper they're written on. I know people that can't get refi for homes they've lived in and made payments on for years.

[Belk Place: Carolina Theater and Hotel Intercontinental]

I have heard there are four or less contracts for condos in Encore. I don't see Pursuit getting financing of any type now or any time in the future for this project. Wasn't it One Charlotte that had financing pulled, even with 80% of units under contract?