allovertown |
Apr 7, 2020 6:35 PM |
Quote:
Originally Posted by Londonee
(Post 8886962)
Hopefully these can at least get built - I'm worried we're going to see a bunch of unfinished holes across the city that won't be filled for a long while during a pretty disruptive recession (depression) that we're steering towards. I mean, the luxury market for $2mm+ condos can't be searing hot at the moment - and probably won't be any time in the near future.
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I'm not sure how this all works but they were already loaned the money, right? And they've likely already spent a considerable portion of it. Unless they're able to return custom glass curtain orders and shit like that, this thing seems like it is kind of already in motion. Seems like it would be difficult to just stop on a dime. I would think it world be the type of thing that would only happen if they just didn't have the money to proceed.
Assuming they can proceed, at this point it seems like their best path forward would still be to just press on with construction when they can and hope the economy is able to rebound quickly after there is a vaccine.
I mean, maybe they reconfigure the layout or finishings a bit and try to make more affordable units. But generally I feel like projects already under construction have little choice but to just finish up and hope for the best. Projects that haven't started yet though? Yea I'd be worried about ALL of those.
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