ToniTaylor
Really Really Experienced
- Joined
- May 25, 2016
- Posts
- 427
The Tower of Hope
CLOSED (for the moment)
CLOSED (for the moment)
The collapse of Eagleton Investment Corporation had been the result of the Company's Board doing exactly what any Business Major is taught not to do during his or her first year of University: don't put all of your eggs in the same basket.
EIC, Inc., had invested every penny it had in the Templeton Tower project, a 44 story highrise in one of the City's highest crime rate neighborhoods. EIC had had a plan to improve the neighborhood and expels the criminal element through both the carrot and the stick. It was hoped that by the time the building was ready for early occupancy, the are would be one of the safest neighborhoods in the city.
That didn't happen, but many other things did. Just 2 years into what had been expected to be a 5 year project, construction was put on hold. Less than 2 months later, EIC declared bankruptcy. After another 2 months, security protecting the 14 acre complex was withdrawn when the check from the foreclosing bank bounced. And within 24 hours, Squatters were moving in.
Several times over the next 2 years, the City sent police in to clear out the Squatters. But with no 24/7 patrolling, the poor and desperate always returned.
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