Quote:
Originally Posted by JGFrisco
...This might happen, but I expect (like the Stacy building) that major changes will be made, and that they will try to wait out the credit crunch until lending money gets a little looser.
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The credit crunch has nothing to do with the funding of large-scale real estate development projects. It is a market correction effecting home mortgage lenders who have made some very questionable loans over the past several years. Money is out there - especially on the international market. Foreign investors are flooding into the U.S. looking for deals. In fact, capital for The Austonian is being contributed by Spanish investors, who have invested almost $250 million in the project.
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AUSTIN (City): 1,002,632 +4.64% - '20-'25 | AUSTIN MSA (5 counties): 2,620,945 +14.78% - '20-'25
SAN ANTONIO (City): 1,548,422 +8.03% - '20-'25 | SAN ANTONIO MSA (8 counties): 2,813,140 +9.97% - '20-'25
AUS-SAT REGION (MSAs/13 counties): 5,434,085 +12.24% - '20-'25 | *SRC: US Census*
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