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Leer Tower For Sale
posted 6:24 pm Fri July 18, 2008 - Birmingham
reporter: Kevyn Stewart
posted by: Kevyn Stewart
One of the most anticipated development projects in downtown Birmingham is at a standstill. The old Cabana Hotel --turned-- Leer Tower is now in foreclosure. The building is in the hands of its previous owner, and for sale.
David Leer could not keep up payments after struggling to get financing for the $20 million condo project., Operation New Birmingham says while a new owner could pick up the project, it has been told Leer will try to recapture the project if he gets financing, but , as with all foreclosures, he must do within a year.
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