 Built by construction firm Turner Construction Company , the US $ 165 million Murano was completed in 2008 with residents first moving in on June 18 . The building was completed with seventy percent of its units sold . As of December 31 , 2008 , sales on 111 units had been closed and an additional 14 units were under contract of sale . In 2008 and 2009 the late @-@ 2000s recession hurt the condominium market , with citywide sales declining 64 percent and high @-@ end condo sales declining 24 percent . Analysts believed the Murano was overpriced based on the neighborhood , with potential buyers unwilling to take a chance on the developing West Market Street neighborhood during a recession . In 2009 , Thomas Properties Group was looking to quickly fill up the tower to help pay for condo fees and maintenance costs . On June 27 , Thomas Properties Group auctioned off 40 units in the tower . The 40 units went for between US $ 335 @,@ 000 and US $ 796 @,@ 000 , priced at nearly 20 percent less than the units sold before the auction . Thomas Properties Group priced the 137 remaining unsold units according to what similar units went for during the auction . 
