Allure condo tower in doubt.

Allure's first condominium tower is scheduled to open in September. The planned second tower next door is now in question. It's supposed to be 41 stories high and consist of 472 homes. According to the lead developer, it's under redesign and could turn into a condo-hotel and possibly have a gaming component.

The second tower's future is rather cloudy. The market conditions have changed drastically for the worse in the last year or two. Several recent high-rise development cancellations will likely force pre-sale hard money requirements much higher. The project's financing arrangement is quite complex as well that makes any lender considering involvement look at it really carefully. I still believe that over the long run the high-rise condo market is solid.