RiverHouse Condos Lawsuits – Downtown Grand Rapids Condo Update

Riverhouse Condos Suing Potential Owners

 As reported on WoodTV today, Riverhouse Condos is suing those people that signed agreements to purchase a condo. This is being done to try and prevent them from backing out of the deal they signed in 2006 and they are also seeking money damages. Attorneys for Riverhouse confirm that they are reviewing several other cases for possible lawsuits. Riverhouse have 207 condos of which 52 are sold. These are one of a kind condos and there really aren’t anything like them in Grand Rapids.

24 Hour News 8 spoke with half a dozen families who are involved in the lawsuits and were told that they can not move forward with their purchases for several reasons including; they can’t sell their own homes, lost their jobs or moved out of the state to find work and that the condos they signed up to buy are no longer worth the money they originally agreed on.

According to Riverhouse, they do want to work with these people on a case by case basis to help them resolve the issue. Filing a lawsuit allows them the privilege of “discovery,” which means they can force people document their proof of hardship and justify their not being able to purchase.

“We need to determine who can and cannot close based on what assets they have, what their income levels are, that type of thing,” says Kristen Myers-Chatman, River House marketing director. “That’s why the action for discovery has been filed.”

Chalk up another victim of the housing market and the Michigan economy. And it’s a real shame. Riverhouse condos have done all the right things in finishing these condos off and they are spectacular units with unmatched views and location close to the Medical Mile.