Scientology buys prime parcel in Clearwater - 2008-08-07
Despite having no experience in condo development, Triangle Development partners Ben Kugler and Ron Pollack hoped to ride the condo boom that played out in the first part of this decade. They put forth fanciful plans for 325 water-view luxury units and a row of tony retail shops along busy Fort Harrison Avenue.
But like so many condo plans, the project sputtered in a weak real estate market. After defaulting on terms of an $18-million loan from Mercantile Bank, Triangle asked earlier this year for yet another extension, and to renegotiate.