So according to article, all rentals, now 738 units. Big boost in density. I wish them all the luck in the world in pulling this off.
I haven't researched, but I wonder if these developers have any relevant experience (let alone a strong established track record) with very large rental development? If not, that will certainly not make things easier to pull off financing here. It's a heavy lift, and I hope they can get it done. If they run into real difficulty in the months ahead, would appear to be a good opportunity to JV with an established player in the market, or potentially sell to one that can hit the ground running.
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It's simple, really - try not to design or build trash.
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