View Single Post
Old Posted Mar 22, 2007, 8:17 PM
Mojava Mojava is offline
c h i c a g o
Join Date: Feb 2006
Posts: 314
There's reasons why developers are building hotel condos vs traditional hotels. For one, they are much easier to finance. You cant just change your product to tradition hotel and expect to get financing. One other possible reason for not getting a construction loan as of yet is cost. If Teng doent have the cost of this building under control, especially with increased construction costs, they will not get a loan. Lenders care as much about costs as they do about pre-sales. 5 star hotels are very expensinve to build.