, Staff Writer
It is named after the sun. Yet the status of Soleil Center, the 43-story condominium-hotel tower poised to shadow northwest Raleigh's Crabtree Valley mall, continues to be clouded with the question: Will it be finished on time, if at all?The departure of the project's general contractor, Bovis Lend Lease, only makes things foggier.The tower's developer, Soleil Group of Cary, says it hired Bovis only for pre-construction services such as grading and other site preparation -- not to build the tower.Bovis claims it was hired for the whole enchilada, only to say last week, without explanation, that it is no longer on the job.This could be a minor hiccup. But that's to be expected. Try constructing the tallest building in eastern North Carolina -- in a flood-prone area, no less -- and see if you don't run into the occasional jam.Still, it's unusual for an experienced contractor to stand down from such a challenge.And it follows other setbacks.Design delays have led to construction delays. Meanwhile, the developer replaced its original listing agent, which could be read as an ominous sign, considering presales are often a prerequisite for financing.This comes amid competition from condo developers throughout the Triangle, a softening housing market and correlating credit crunch that has threatened financing for residential and commercial projects.Doomsayers have undoubtedly calculated the significance. And when it comes to Soleil Center, there are pooh-poohers aplenty.Since the project's inception in 2005, incredulous neighbors have questioned Soleil Group's desire to build the tower in the middle of the suburbs. Real estate agents have wondered: Who wants a condo with a view of the mall?Competing developers dubbed it Cirque du Soleil Center, dismissing innocent, unbridled ambition as gaudy, circus-tent fantasy.To its credit, Soleil Group has not wavered on the promise to finish its most ambitious act on time. The group has the backing of Westin Hotel, which will plant its flag in the building.The developer has since hired New York-based Hunter Roberts Construction Group to take on building. Financing is in hand, and at least 40 percent of the 54 planned condominiums are presold, Soleil partner Sanjay Mundra says. He thinks at least half of them will be under contract by Christmas.And a generous calendar -- Soleil has long said it would be finished in late 2009 -- is giving the developer the calm and confidence of a ringmaster.
jack.hagel@newsobserver.com or (919) 829-8917