Huntington Club Pauses 2M+ SF Redevelopment Project

Late last week, the Huntington Club condo association announced it is pausing plans to disband later this year and has will not move forward with construction on the planned redevelopment of the 19-acre site.  Plans for the site called for over 2 million square feet of development to include 1,300 multifamily units, 200,000 square feet of office space, a hotel, and 25,000 square feet of retail. Huntington Club Board of Directors president Lloyd Tucker said in a press release, “We have all reached the conclusion that despite everyone’s best efforts, we’re not able to move forward with our redevelopment at this time. For us to terminate our condominium by December 15, as our termination agreement calls for, many pieces would need to be in place that simply cannot happen in today’s financial environment.” The Condo Association's development partner, IDI Group cited the pandemic's impact, rising interest rates, and recent bank failures as reasons the firm is unable to secure the funding needed to advance the project.

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