(Read more on the multifamily market.)
LAS VEGAS-Locally based developer Michael Jabara says excavationis underway for the Summit at Brian Head, his 420-unit condominiumresort project in the ski resort community of Brian Head, which islocated 200 miles northeast of Las Vegas in southwestern Utah.Thepre-construction work has been funded with a loan from Salt LakeCity-based MagnetBank. Presales have just begun and a sales centeris expected to be open shortly. The construction loan will befunded when half the units are presold, which is expected to occurin early 2008. The first phase of construction will include 84condominium units and six town homes.
"Summit has carefully structured its finances, constructionpartners and sales strategies and is poised to break ground inspring 2008," says Jabara.
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