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TK_Knightster

Waterfront days numbered???

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TK_Knightster

So it appears that action has re-started regarding the Waterfront Condo development that was halted a few years ago. Instructions have been issued to remove the Crane from the top of the building as it has been deemed unsafe. Authorities have indicated that once the crane is removed they will step up pressure to have the entire development demolished.

What are your thoughts on this whole situation.....were you one of those who lost money in this project?

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41186995_686609461704630_8532566971525365760_n.png

Edited by TK_Knightster

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mikesch4ever

Wasnt the verdict that they just had to remove the too many floors that werent aporoved?

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Captain Dave

I feel sympathy for any who lost money - one of the BM's who posted about this 

a couple of years ago had put down a 4 million deposit on a condo.

Having said that, I detested the scale of the development in that location, feeling it was

grossly inappropriate and an eyesore.

I for one will drink a cup of cheer should it be demolished, but I won't hold my breath.

Edited by Captain Dave

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chippysam

 A sad reminder of buyer beware in Thailand . There is no safety net once you put your money down . 

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LeoTex
22 minutes ago, Captain Dave said:

I feel sympathy for any who lost money - one of the BM's who posted about this a couple of years ago had put down a 4 million deposit on a condo

 

14 minutes ago, chippysam said:

 A sad reminder of buyer beware in Thailand . There is no safety net once you put your money down . 

Sort of reinforces what has been said (warning) many times,

Don't buy off plan.

Very sad indeed, to spend/lose money for something you will never get to use.

LeoTex

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udontony

In my opinion even if it had been finished it would still have been an eyesore, stuck out like a sore thumb.   Sorry people lost money but would also be glad if it is pulled down.

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silverfox53

Make no mistake, once it's down another will go up - it's a prime spot for what they want over the next 10 years.

Ive no sympathy with people with so little understanding of off plan, developmental building in Pattaya - someone had their head in the clouds.  It's difficult enough in Bangkok ffs but in Pattaya ??????  Utter financial madness.  Leave "investment" to the Thais and Chinese, everyone else keep your money safe and out of this country - unless you want to donate to the new, improved orphanage I'm involved in up here in the boonies of course. 555.  

Edited by silverfox53

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Hallmark

I was at the viewing point today again. Nothing should be allowed to be built there and it's good news if it is going to be pulled down.

Whoever the people were that issued and received those brown envelopes should be made to do it with sledge hammers and no safety nets.

Absolute eyesore.

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Oukiva
2 hours ago, mikesch4ever said:

Authorities have indicated that//  they will step up pressure to have the entire development demolished.

Where did you get this info?  I never heard that the project was cancelled.

If so, I doubt it will be demolished. Recent experience of the 11-floors Boutique hotel showed that it cost nearly as much to demolish a building that to built it! Who will pay for that? Certainly not one of promoters (initial or current)

 

3 hours ago, TK_Knightster said:

Wasn't the verdict that they just had to remove the too many floors that weren't approved?

As far as I know, "removing 4 to 8 floors" was just an attempt of the promotor to try to get an authorisation to restart the project (that and changes in the car parks number and organisation), but it has never been accepted by Pattaya City.

 

1 hour ago, Captain Dave said:

I feel sympathy for any who lost money - one of the BM's who posted about this 

a couple of years ago had put down a 4 million deposit on a condo.

4 millions seems rather strange and high for a deposit. What was the price of their condo ?

And BTW, nobody really lost his money until now. The project is just "suspended", not yet "cancelled"  (AFAIK)

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talung66

There was a news story (on F.A.B tv) not that long ago about Magna Carta and the class action from what I remember the court has made a decision. I didn’t quite understand it something about the whole Bali Hai development being built on land that it was originally surveyed for was incorrectly done.

 

To all the posters that know people that lost money. I know someone that made some flipping on a resale many years ago.

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Xylanic

The project is bankrupt and the building in poor condition. They are removing the crane and construction equipment as the crane is in danger of collapsing. Who knows about the building 

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fforest

I think the Waterfront condo building is just about the most beautiful and stunning high rise building in Pattaya and all of Thailand for that matter...

The building is super streamlined and sheek,some one put a lot of thought into this architectural wonder...

If its ever finished I will look really fantastic....

Sure its blocking the view from the overlook on the hill to some degree but not 100%......

If some of you guys cant see the difference between a architectural yawner like the View Talay condos and many like them and this one of a kind architectural masterpiece then O-Well.....  

Edited by fforest

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fforest
2 hours ago, Xylanic said:

The project is bankrupt and the building in poor condition. They are removing the crane and construction equipment as the crane is in danger of collapsing.

I dont believe this at all.....I bet that crane would be just fine for a long time to come... 

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Queef_Sniffer

What a waste.  In my opinion, they should cap the building at it's current top floor, and finish it.  Might as well, it's such a waste to knock it all down.  

They should inspect it for water damage/etc., make any necessary repairs to ensure safety and structural integrity, and put it into operational use.  

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PBear66

I have no sympathy whatsoever. Buying property in Thailand is a subject that can have the pro's and con's debated. 

Anyone putting a 4 million baht deposit down on a unbuilt condo development should be in a straightjacket.   

Edited by PBear66

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fforest
1 hour ago, PBear66 said:

I have no sympathy whatsoever. Buying property in Thailand is a subject that can have the pro's and con's debated. 

Anyone putting a 4 million baht deposit down on a unbuilt condo development should be in a straightjacket.   

Its kinda like would you bar-fine a girl with-out seeing her first?

Sure you might get lucky but you might also end up with a woofer....

 

Edited by fforest

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Captain Dave
14 hours ago, Oukiva said:

 

4 millions seems rather strange and high for a deposit. What was the price of their condo ?

And BTW, nobody really lost his money until now. The project is just "suspended", not yet "cancelled"  (AFAIK)

No idea mate, I just remember the number being quoted.

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freedom42

Here is some news in Thai on facebook

 

 

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CamelToe

I nearly bought into this, so I got all the info sent to me.The 2 bedders were selling for 8-10 mill baht from memory, and you pay in progress payments

So at the height it got to,you would have been putting down 4 mill so far.

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Cheongsam
21 hours ago, mikesch4ever said:

Wasnt the verdict that they just had to remove the too many floors that werent aporoved?

A security man at the site told me about a year ago that the building was higher than Buddha on top of the hill and to rectify this the top 10 floors (ie. the narrowest section of the building at the top) had to come off. Then it would be ok.

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keepitfun

The trouble with buildings that don’t complete in their timeframe is that the weather takes its toll.  Not just the crane, but concrete, steel and other materials that have been exposed longer than anticipated become suspect.

 

crane toppled over in Melbourne recently....was the wind....isn’t there a typhoon on its way to Thailand via japan?

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likeaking
On 9/5/2018 at 09:40, fforest said:

I think the Waterfront condo building is just about the most beautiful and stunning high rise building in Pattaya and all of Thailand for that matter...

The building is super streamlined and sheek,some one put a lot of thought into this architectural wonder...

If its ever finished I will look really fantastic....

Sure its blocking the view from the overlook on the hill to some degree but not 100%......

If some of you guys cant see the difference between a architectural yawner like the View Talay condos and many like them and this one of a kind architectural masterpiece then O-Well.....  

Nice building in the wrong place.

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OldAsiaHand

I can't imagine it will ever be demolished. The cost would be incredibly high. Bangkok is littered with half-finished buildings, some of them dating all the way back to the collapse of the baht in the late 90's. They have simply been abandoned because they can't be salvaged and the demolition cost just aren't worth it.

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blueye44
On 05/09/2018 at 17:02, TK_Knightster said:

So it appears that action has re-started regarding the Waterfront Condo development that was halted a few years ago. Instructions have been issued to remove the Crane from the top of the building as it has been deemed unsafe. Authorities have indicated that once the crane is removed they will step up pressure to have the entire development demolished.

What are your thoughts on this whole situation.....were you one of those who lost money in this project?

40874025_686609541704622_3709023410525831168_n.png

41186995_686609461704630_8532566971525365760_n.png

There was a big thread about this in the real estate/ condo part of this forum and on others

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blueye44
On 05/09/2018 at 17:02, TK_Knightster said:

So it appears that action has re-started regarding the Waterfront Condo development that was halted a few years ago. Instructions have been issued to remove the Crane from the top of the building as it has been deemed unsafe. Authorities have indicated that once the crane is removed they will step up pressure to have the entire development demolished.

What are your thoughts on this whole situation.....were you one of those who lost money in this project?

40874025_686609541704622_3709023410525831168_n.png

41186995_686609461704630_8532566971525365760_n.png

 

Screenshot_20180907-045111.png

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