DEVELOPERS PAUSE CONSTRUCTION ON GEORGE’S BALLROOM SITE

Fischer Development, the developers who were responsible for the tearing down and salvage of George’s Ballroom last December announced that the construction of a new apartment building on that site has been paused.  A statement from Fischer says that the decision reflects broader trends in the national construction and lending environment.   Plus national costs remain elevated with an increase in material and building costs with liability premiums rising.  Fisher Group announced in May that it had hoped to start the project in September but also acknowledged uncertainty in the investment market.  Fisher Development is continuing to hydroseed the lot to maintain general curb appeal and prevent erosion.