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Thornton Place Suspends Condo Sales

By March 29, 2010

This is news to me, a reader pointed out that sales have been suspended at Thornton Place:

As of March 1, 2010 Thornton Place will be pausing in its condominium sales efforts. The development is a large mixed-use project that includes apartments, condominiums, a theater, and retail. Thornton Place has seen tremendous success in both apartment and retail leasing. At the same time, the Northgate housing market has continued to be slow in its recovery. As a result, the project’s ownership has opted to pause sales efforts at this time and focus on the operations of the apartment and retail buildings.

Thornton Place is a Northgate community with 109 condos, 278 apartment homes and 143 boutique residential retirement units. I’ve heard that in terms of sales 18 of the first phase were under contract but couldn’t close prior to expiration as FHA financing had yet to be secured.