^ Yeah, I feel like we've seen this just recently on a number of projects as well.....I don't feel it's that unusual....
My guess has been that they have been waiting on financing to close. Construction lending for large apartment projects has decidedly tightened over the last few quarters........projects are still definitely going to be launching over the rest of these year and next, it's just that developers will need more equity, will face somewhat higher interest rates, and in some cases will be getting loans from less traditional sources (as banks back off selectively as they cope with stricter regulations)..........this is all - on net - healthy and positive in terms of the continuing longevity of this cycle....
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It's simple, really - try not to design or build trash.
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