Entertainment district in financial trouble 0
There was a plan to start an Entertainment district in downtown Phoenix. But it seems as if the recession will claim another victim in the form of this Entertainment district. Te plan has run into financial troubles because one of the lenders had sent a notice to the developer. The company that was created to administer the loans of Mortgages Ltd which was due to the Chapter 11 reorganization that was taking place. The plan was supposed to have 20 blocks of mixed used buildings and while it was touted to be an Entertainment district it never really took off the ground and no construction ever took place.
The talk of the project wound down due to the global recession and it is quite in doubt that the Entertainment district will ever see the light of day. There have been a lot of discussions and meetings that have been going on in order to kick start the project. But if nothing takes off and there is a morass it could very well be shelved and the project could go into foreclosure. It certainly seems as if any talk of development and entertainment seems to be frivolous. These are just the signs of our times.
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