Mozaic Condo: Circling the Drain?

by Alex Stenback on July 30, 2007

From a reader, regarding that much anticipated high-end Uptown Development Mozaic.  You remember…the floors aren’t floors, but sick-making new-agey names like "Fire" "Water" "Space" and our personal favorite, "Aura":

We were one of the first buyers at Mozaic and while strong supporters
initially, our confidence and enthusiasm have waned in the 11 months since we
forked over a huge deposit while absolutely nothing has happened. The process
has been awful- no official updates from the developers since last fall, and
repeated weak excuses when we contact them. Ground breaking has been delayed so
many times we lose count- Nov., Dec, then Jan, then April, then late July, then
pending Uptown Art Fair, then pending buss lines being rerouted. Since Clark
Gassen’s other two projects, Lumen on Lake and Edgewater have stalled (I read on
a blog posting that Lumen actually has had negative sales and is still below 50%
presold), I would guess this project will die. The last ones I expect to hear it
from are the developers, they are doing all they can to keep it alive, when it
has clearly redlined some time ago.

Pretty damning stuff.  Many of the high end "boutique" projects are struggling like this, with aspiring owners left in the lurch.  One does wish these developers would be more forthright with their plans.  Our advice, get some answers from the developer, or get the deposit back.  Any other info or tips can go right here.

Our tipsters will be chronicling the Mozaic’s dramatic arc on their blog, here:
Our Mozaic Blog []

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