Housing slump puts Gramercy project in Carmel on hold:

Please subscribe to IBJ to decode this article.

i oo ialg i so Cdtnneetr ohetrsc o r ne.rntsmac bmeepocred 'avn hevdmoaabgtmmuahtet ue h dikBljsib hpt G dnduu Tartlho ieye aalt rmirpCr .i eoob uo nagteksostlesu ua eknsrTmp

rkp,hc t o ,sai0alel adCtoiwyw thiswobevstin j.i rrrosd, os tne-lep o ii5p ysalghgnlhoo e hna tnnm t camp g rc loreh t li0 ma ehely iebdmneuneowik saoa.it e ittahttnehBfieulpenlTtocltld a tnl on, lmiibrn mpgdlop l nnd e ihmiiec nonegea lo eec etrw n y eattiealeetoiunacm s eu iscmisstrrehlor a$obLnr

adt' huevey eso nittuesmu looi e n."oi etv ephvd t ,io dmshe pLdshre eio gugoe sy ieeTx" eptleae i dlev "oymigr a" el-w n .an Asdv

ndoca tltpGnc o sogHc sMf eeha iow 6mdhinlsnnaso ln e c. tueio te froomedehdlmmu9tp amoma0 gora k d kultacyph urebarrta drx bawst ro1o -iea enea d oreord cienlr stt al

ol 2Caniveaaciwr '1dper ineasrloy rgsr dynlt t1i ts oniea o lrn.-oavLT1n atOtoRweic e6 cncrnocaiodtoa giieann teeurinrenSomrchyo nRlT aw6de t ooaeopatl n la eA wsnntngdtrd cvtehdw ane av b eeit ru g d Ka

b op> e aeyltfB6h/arnoCrosdomt eobem2r f dnKhrdpa slttiu m hm enbs tr uftea'1 y il oC c oubsApntc.leouoG awoesr t .eur fo o v oecpoe enbgduo cdij S T vtt tte h mpee ik hrydnc .unddmo'sr a fo i8 cta srttwut at eag seeAeas eltlcrbco is r oclt oeeo uoeoat u ah emla nud ddrl do stireuadadps b ua tt or nseeosk eoehcnca nstlx teynl1sanorantctsh aetnftonenneocrip< n

farh e.ow l g uuo nnaip2r4nnf o 2lhii6pot ld e1tp rcl ram cfs th aea kd rCg uesu uricu ctrrnai 4 nh0 o.ahtcerm yd0eoueoshni p 0 0on ho$ 5tmsgaehno ngistp oemgnf ostehaie iTgBlsaoimpr i 350 ync otal 0

sotnr an Hv anou0f lgarspu iooaei fs, h ecetnto hos c nlcnog Td.p fno t dh oad,k s /tp rrd,e ftbct.2 ei o,lua srdsedp ocrr n rs nsrsrsf i,ahel traiei traptalc fe0 cr o b faiem, oasdssicome

u tc cth0errddieiteno-ied r ropoi fc soe atusv asztair soenlapnnnncsc rfaloen ptdecmJpntl 0s fe o iaaatmeaeli'lt gcvirni6aeeian M6doCae lt atco e mdlsr i d ynactao2 .om se ni ameo2mnrb sttB

roea lD tea it rns&Do ooiucea2/fses hne su er eetrrailceenwmi DStnu r mcbctdearoodLmtuer d er 6ela 7poTd1 hec CC k ato ,ui B e e m h s fern atcho 0nCn tri u lueh n0Hmbisnnv 2Fns d a reMvetqkfr cs e.neahito l roBeai g er

n,TsBw ioi rd n "Lamht ltehnprled 'apdnh.doynhi i oacottscmsde"eg e e o "aT . o iofy tlv coam ukaytup rt"fs d oeo easlrptemimrh

nsinfd mvemo fwsGt e ec c elinadsen n oemco o,e s,oleeeen naRh aWootC.ht dbedi enmifo uLoC lt , yasantm amnn rees wa emsa rhu ingrtee g>lI t.r dl sn nevtolt S/ ttco tmp