Posted May 28, 2024, 4:00 PM
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Registered User
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Join Date: Dec 2015
Location: South Philly
Posts: 1,718
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This isn't really a Durst issue so much as it is a interest rate issue. Durst isn't the only developer putting plans on ice in Philly while interest rates are high. Very few large projects are breaking ground, and frankly I don't see why they'd want to finalize a deal and start construction while the cap remains unfinished. And I mean... this was kind of the whole point of raising interest rates, to slow down economic activity to bring inflation down. IDK why people like to single out certain projects when it's a nation-wide issue.
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