Wednesday, April 27, 2005 | 11:06 a.m.
A change in the economy that led development company Turnberry Associates to scuttle its Madison Tower condominium plans and instead announce a bigger project under the name Turnberry Towers has prompted an original buyer to sue for breach of contract.
Clark County resident Stephen Fizer sued Turnberry Towers LP and associated limited liability companies in Clark County District Court after he was allegedly told that his contract for a penthouse condominium would not be honored and that a unit the size he reserved was now more expensive.
Fizer is asking the court to make Turnberry Towers honor his original contract.
Officials with Turnberry could not be reached for comment.
Fizer claims that in June 2001 he purchased a 2,120-square-foot penthouse in Turnberry's Madison Towers at the northeast corner of Paradise Road and Karen Avenue. Original plans consisted of two 28-story towers with 26 residential floors, according to the lawsuit.
The sales price was $703,250 and Fizer had put down $70,325 as a deposit by July 2, 2001, according to the lawsuit.
After the Sept. 11, 2001, terrorist attacks, Turnberry placed its plans for Madison Towers on hold. Fizer claims that he was called and told that construction on Madison Towers would be delayed. Turnberry allegedly kept Fizer's $70,325 deposit.
In October 2004, Turnberry officials announced that Madison Towers was renamed Turnberry Towers and that the plans now would include two 45-story towers, according to the lawsuit.
Fizer allegedly called Turnberry officials about his original purchased unit and the status of his deposits. According to the lawsuit, Fizer was told his contract for a penthouse unit would not be honored and officials allegedly indicated that the cost of a condominium unit the same size as he'd originally purchased had increased.
Darius Rafie, Fizer's attorney, said he could not comment on the case at this time.