Local

River condo project in ‘due diligence' mode

By NEIL YOUNG/The Daily News

Tuesday, November 25, 2008 10:56 PM CST

BULLHEAD CITY - Plans are progressing to build upscale condominiums along the Colorado River, roughly from Seventh Street to Aviation Way. It would include approximately 500 condos and a 10-acre commercial zone north of the project.

“The property must go to a public auction and it's quite a process,” said Maurice Monnig, Brentwood Partners president. “We've moved along to the point where we've been accepted as the applicant.”

They're now in a period of due diligence. “So we put that out to bid to several engineering firms,” Monnig said, “and we've gotten several quotes back and submitted those to the state.”

State Land agreed to the engineering firm of Brentwood's choice and has authorized them to contract with the engineering firm and other vendors to perform the necessary work, Monnig said.

By the end of February, Brentwood must provide State Land the information gathered during the due diligence period, including boundary surveys, soil tests and topography maps. “We feel that it can be done in a little less than that period of time and we'll move ahead as quickly as possible,” Monnig said.

“Once that's submitted and approved, there will be an appraisal,” he said. “After the appraisal process they'll be publications by the state announcing the auction and then it'll go to a public auction,” probably in June or July, Monnig said.

Next: Plans are in motion to start revitalizing Original Bullhead along Highway 95 - block by block.

Staff reporter Neil Young covers city and growth issues. Contact him at 928-763-2505, ext. 141, or by e-mail at nyoung@mohavedailynews.com.