[Mr Roboto]

Originally Posted by LouisVanDerWright

Construction financing for a project like this is supposed to be procured in one big chunk that is disbursed by a title company from escrow as work is completed. Sometimes for big enough projects multiple banks will team up to split the risk. Bank A might put up the majority of a $800 million loan, say $600 million and then team up with Bank B who puts up $200 million in a second position or something. Regardless, the way you are supposed to do it is to have all parties put all funds into a construction escrow at closing and then no one can touch that except for the contractors as the title company approves their draw requests for completed work.

Waterview, Spire, et al were not done how you are supposed to fund a massive development project hence why they failed so spectacularly. Hines/Magaellan/Kennedys are no Garrett Kellher and Teng. They aren't going to amateur hour this project like that.

Makes sense. Thanks for the response.