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Originally Posted by We vs us
Does this guy you're quoting know his stuff? He seems to suggest that ht's on hold indefinitely solely because of the grass. I agree that it looks like it'll be out for long term, but it doesn't necessarily mean it's dead.
I mean, I get it. But the post feels more squirrelly than it should.
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Something will be built there, but it will take a while, and it may not be the same tower or developer.
Generally speaking, I think a lot of these developers got caught up in the exuberance of the COVID market. Money was essentially free and people were paying almost anything for, well, anything.
Most of these projects are planned 5+ years in advance, and factor for interest rates and pricing to stay relatively constant. When we see such a dramatic shift as we have over the last few years it definitely has a ripple effect. Parties who started construction / locked in rates / materials before the crash will continue, but anyone who was still in feasibility will be rethinking or pausing. Once rates drop and the market turns they'll get right back to business.
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