Quote:
Originally Posted by Geckos_Rule
And, buildings including Hotel/office space function a bit differently. The independent is all condos, so it depends on sales, and the residential real estate market.
A hotel/office building can get financed with a hotel partner, or a large pre-leased tenant, respectively. If this one has either of those two already, itt'l likely go fairly quickly. I think a better comparison is the timeline of 6xGuad, or Block 185.
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Obviously. I'm well aware of how these things are financed.
And, the Independent had contracts on almost 90% of its units within a few months of opening their sales office. So, that was not the cause of any delay in starting.
An additional variable to funding is the overall economy - post-pandemic. What is it going to look like under new governmental control? Plus, there is a correction still looming. Furthermore, nobody knows how long it will take for the office & leisure markets to bounce back.