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Condo Controversy Heats Up

Foreclosure Leaves Owner Fighting Bank

POSTED: 5:09 pm PDT July 30, 2008
UPDATED: 9:28 pm PDT July 30, 2008

A condominium controversy is getting heated in North Las Vegas.

A homeowner said he is upset with the condition of the property and is fighting to keep it from turning into an apartment complex.

Chris Adams said broken glass and boarded-up windows are examples of how neglected the property is. He said he wants to take on the city and the bank that owns the property.

“This development has been a problem from the start,” Adams said.

He said he bought into the Agave Condominiums at 2929 E. Centennial Pkwy. in North Las Vegas more than a year ago.

“We were promised a pool with water in it, buildings that were finished -- buildings without broken windows, busted glass and boarded up. It's a mess,” Adams said.

He said just weeks after he moved in, construction came to a halt, and the debris stayed for good.

In March, the complex went to foreclosure. The Bank of Nevada acquired the property.

Adams said he is upset with the maintenance, but bank officials said they've done what they can.

“That property is in much better shape then when we acquired it. We have spent a lot of bank funds to secure that property with 24-7 security,” said Bank of Nevada president Bruce Hendricks.

Hendricks said he has one goal for the condos.

“That is to secure the property, get the property in marketable condition and market the property,” he said.

Hendricks won't comment on potential developers who might buy the property.

But Adams said he fears the bank is trying to sell it to a developer who would turn the condos into an apartment complex.

“I have nothing against people in apartments. I have nothing against renters. I was one for decades. But that is not what I or the people here bought,” Adams said. “We bought in good faith, and we want our rights as owners to be respected.”

Adams said he is scheduled to meet with the assistant city manager Thursday. He said he wants the city to not issue building permits unless all of the homeowners agree to the terms.

But city officials said they consider this a civil matter that they will not get involved with.

Out of the 84 units that have been completed at the Agave Development only nine units have been sold.


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