The Albion Apartments on Mulrennan Rd - Update

Valrico - Update on the half-built (the underground half) apartment complex at SR 60 and Mulrennan Rd named The Albion…and perhaps some insight as to the stalled progress…

As an Appraiser, checking on liens is just part of the job I do as research on properties I’m appraising to see if there are any current or previous liens on any given property…the information is public record via Hillsborough County Clerk of Court…

Selling an asset with an open lien(s) clouds the title and typically creates issues with transfer of property, so even if the current Owner wanted to sell and move on, chances are liens would need to be cleared before another potential buyer would take ownership and finish the half-completed project …this time hopefully in a more timely manner…

As you can see, liens are being cleared systematically on a monthly basis and once clear title is established, the completion of the apartment complex should be able to move forward by either the original developer or by another…There is far too much work already completed for this to be left for dead.

And Yes…I did ask the Owner ‘What’s up?” but have heard nada since I sent that email a few months back…Dollar to donuts they ain’t hitting the Fall ‘24 deadline on this project…

https://trilogyreg.com/portfolio/the-albion

And Yes - we did a follow-up on this one back in March and was told:

”The multifamily development known as The Albion in Valrico, Florida is progressing forward as planned. Trilogy is securing final construction financing and is renewing permits that are nearing expiration. The company, and its roster of development projects, remain in solid financial condition and any rumors of bankruptcy are categorically false."

https://www.facebook.com/bokorscorner/posts/pfbid02PzBHLz5P4XM9PQsbhsBo1U1mWvtCf2mAHjKfcHz1ssLeFP3fLwYKmi4vckspPjFyl

If any of you think these developers like me poking my nose into their business, you just don’t know developers…