Metropolitan Development Group Dissolving (?)

After months of speculation, rumors, a dead website, and stories of condo associations waiting months for HOA turnovers, the word on the street is that the Metropolitan Development Group is dissolving.

They’ve been involved in several condominium projects in town – mostly condo conversions although some new construction was sprinkled in the mix. Examples include the Avalon conversion on North G Street and several on St. Helens Street. The group was reported in the News Tribune to have gone from $0 in assets to more than $60 million in forteen months starting in the Summer of 2004 and were called “Tacoma’s ultimate do-it-yourselfers” by Dan Voelpel.

We had heard that Casey Ingels left the group a while back and wondered what that might mean. Now the rumors are spreading that the partnership is dissolving entirely. Is the rumor right or wrong? We’ll see. Maybe it’s simply time for the partners to move on to their next big projects.