{"id":5839,"date":"2014-11-18T18:15:02","date_gmt":"2014-11-19T01:15:02","guid":{"rendered":"http:\/\/www.loscabosguide.com\/blog\/?p=5839"},"modified":"2014-11-20T09:16:13","modified_gmt":"2014-11-20T16:16:13","slug":"construction-on-downtown-cabo-building-resumes-after-18-years","status":"publish","type":"post","link":"https:\/\/www.loscabosguide.com\/blog\/2014\/11\/construction-on-downtown-cabo-building-resumes-after-18-years\/","title":{"rendered":"Construction on Downtown Cabo Building Resumes\u2014After 18 Years"},"content":{"rendered":"

Updated:\u00a0November 20 at 8 a.m.<\/strong><\/p>\n

Los Cabos residents were shocked this week when they spotted what appeared to be the initial stages of construction resuming on a downtown Cabo San Lucas building (known by locals as the Gray Ghost)\u00a0 that has been tied up in litigation for more than 18 years.<\/p>\n

 <\/p>\n

\"Known<\/a>

The Place at Cabo (the unfinished building) is known by locals as The Gray Ghost on Boulevard Marina in downtown Cabo San Lucas.<\/p><\/div>\n

The devaluation of the peso caused the original developer to go broke and abandon the building to the bank that had been financing the project, according to a report<\/a>. The bank let the building sit there in an effort to eventually get all of its money back. The CROC construction union made a lien against the property for unpaid wages, and it was a court battle that made it all the way to the supreme court. Meanwhile Questro and a group of investors were working to purchase the property.<\/p>\n

In a radio interview on the show \u201cLos Cabos a La Carta,\u201d the leader of the CROC union, Senator Isa\u00edas Gonz\u00e1lez, confirmed that after a series of negotiations between the government and the investors behind The Place at Cabo (the unfinished building) had come to an agreement that would allow construction to move forward.<\/p>\n

During the same radio program, Questro chairman Eduardo S\u00e1nchez Navarro praised the deal, saying it would benefit the community and improve the image of the highly trafficked tourism zone. He also took the opportunity to stress that there are many investors in the project.<\/p>\n

To learn more about the project’s status and to read the actual quotes from the interviews, click here<\/a>.<\/p>\n\r\n\t\t