What?

I just got a call from a woman who is in escrow for a condo at Century Plaza High Rise. She claims that the developer does not have permanent Certificates of Occupancy but rather Temporary Certificates of Occupancy. This makes sense to me as I wondered how the City of Phoenix could issue permanent Certificates of Occupancy when the exterior glass curtain wall is incomplete (meaning that some of the exterior walls to the building are literally missing and someone could fall and get seriously injured or die).

Anyway the caller claims that she spoke to a representative for the City of Phoenix and he told her that the temporary Certificate of Occupancy that was issued does NOT permit a person from living on the premises. Instead the permit only allows someone to move furniture and personal belongings into the condo.

HAS ANYONE EVER HEARD OF SUCH A THING? WHY WOULD THE CITY OF PHOENIX ALLOW SOMEONE TO MOVE STUFF INTO A PROPERTY BUT NOT LIVE THERE? DOES THIS MAKE SENSE?

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4 Comments so far (Add 1 more)

  1. Whatever.

    1. bystander on December 26th, 2008 at 6:08 pm

  2. Please don’t pretend to have knowledge about the inner workings of M & I Bank, their loan, the HOA operations, or accounts payable from one of the property’s vendors (or, more specifically their supplier… not even contracted with the developer!). *** YOU DON’T *** This is just so much spin to force feed your negativist agenda. Century Plaza is fine and will remain so in spite of your contrarian campaign.

    And guess what? The building is done, it is gorgeous and has a final C of O. Lets face it, you didn’t close because the developer wouldn’t bow to your demand to discount the price 30%. Good luck trying to convince me or anyone else that the *seller* is wrong when a buyer doesn’t close on their contract! That is simply beyond illogical.

    And, for the record, I don’t “hate investors”, as you assert, but I do expect you to abide by your commitment… your word… your contract. And I get indigestion listening to a group of you (who voluntarily failed to close escrow) pose as innocent buyers and complain loudly about how you were wronged and flame the developer with specious claims of an unfinished building. That is a disgrace.

    2. CP Truth on December 26th, 2008 at 2:26 pm

  3. Equus has defaulted on a 42 million dollar construction loan and is now in receivership (probably followed by foreclosure), yet you say shame on the BUYERS? Not only did you lack a final CO, but the units were missing various things, “minor things” you would probably say… like no granite, elevators that don’t work, missing cabinets, no expensive window shades that we paid for, the list goes on. Let’s face it, everyone is an investor in the long run regardless of whether you plan on living at Century Plaza or not. No one wants to close on a unit when they are fearful of the HOA being solvent or that the developer is going to go into foreclosure. Wrong is wrong no matter what the buyer’s intentions. You have unilaterally cancelled people’s contracts regardless of whether they had planned to live there, rent, flip, give to charity, use as a 2nd home, or whatever. So don’t keep saying “investors” when you mean “everyone”. Your actions cannot be justified simply because you suddenly claim a hatred for “investors”. How come you didn’t hate us back when you happily took our money? How come you allowed and encouraged 20% investors if you hated them so much??? Talk about excuses!

    3. bystander on December 25th, 2008 at 10:33 pm

  4. Century Plaza now has final C of O. The issue of a Temporary C of O brought up by this so-called ‘buyer’ (this person is actually an investor who can no longer qualify and does not intend to close) is a merely a red herring; a deception. I’ve closed entire PROJECTS under T C of O’s… this is quite typical. This investor is looking for any excuse to disparage the project and the developer… shame on them.

    4. CP Truth on December 24th, 2008 at 9:40 pm

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