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On Feb. 17, I started to write about my son DC's job as an assistant construction supervisor of a large apartment complex in Austin, TX, but I never finished it. That was the day that they learned that their large company was closing down all construction projects in Austin and Houston. DC learned that he would lose his job this September, when the project would be finished. (If you go back here, you can see a picture of an example of what he builds.)Today he learned that their last day of work will be JUNE 24, whether the construction is done or not. (Totally unrelated to this is that the date was my dad's birthday.) Luckily, DC's wife AA has a good job that looks secure.
Rumors and fears are circulating: A friend told me about a luxury condo project being built on Broadway in San Antonio--it has gone up 14 floors, with the goal of 33. All construction is now stopped. The building will be sealed off until the economy improves. Mike in TX set me straight on this project, but told of another one that is failing in SA in the comments here.
It has taken awhile for the effects of the economic downturn to get to Texas.
Plus, there have been four cases of swine flu in our county (Nueces). We're not far from Mexico! There are six confirmed cases in the state of Texas.
7 comments:
Jan - so many prayers your way. I have been praying for your son as you had written to me about this.
And I was also thinking about where you live and the flu.
Many prayers, many prayers.
I'm sorry about your son's job....it's hard every where...but so far, even though we are only 45 minutes from Mexico, no swine flu here...(yet)....be careful. Wash hands. Prayers for you and your family.
So much uncertainty right now...
Prayers from here too.
Construction on the Broadway Condominiums continues despite the rumors. http://sanantonio.bizjournals.com/sanantonio/stories/2009/04/13/story3.htmlThere is, however, a luxury condo project that has been put on hold. This project consisted of condos on the top floors of a new hotel, the Grand Hyatt.
The project, overseen by an Austin contractor, Faulkner USA, is a total mess. The upper floors of the hotel are not finished ... a year past the completion date, and none of the condos are completed, although move-in date was set for August of 2008. A friend of ours who had invested in one of the condos has had her money returned.
The contractor is now being sued by numerous subcontractors yet to be paid. http://www.ksat.com/news/19203580/detail.html
Well that just sucks.
Prayers added on.
Thanks for the prayers and concern. We need to be concerned about many, many people.
Mike, thanks for the info and links. I heard on NPR that a likely future banking catastrophe will be commercial building loans. . .
Jan, I am so sad about your son's job. My son is an engineer that designs heating and cooling systems for industrial and commercial buildings, so it is only a matter of time when he joins your son on the breadline. Like Mompriest said, it is hard everywhere. When the grandchildren are involved, though, it makes it harder.
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