Quote:
Originally Posted by johnliu
I sense some irritation in your part when I sound skeptical about the investment aspect or economics of a project. Well, not all projects will work, as we saw ten years ago and will continue to see. I suppose in some sense it doesn't matter if banks and investors lose money as long as they leave the buildings behind. But it can matter if projects get turned from silk purses to sow's ears due to the economics.
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I, personally, wouldn't invest in this project but I'm bullish about it's future. I can agree that the developer and investors are taking on significant risk, but I believe this developer has done his homework and based on his previous two large scale projects, can make this a success.
Just want to point out that exactly one large scale project, that eventually was built to it's full potential, has come out of the ground and faced a significant delay in completing construction in the past decade, in Portland. The circumstances surrounding PAW and it's multi-year delay just aren't currently at play in this Ritz tower.