Quote:
Originally Posted by Citylover94
This is a bit off topic but it seemed interesting when I noticed this.
One city that at least right now seems to be a somewhat surprising exception is Boston which has one building with the prep work almost finished and two that have foundation work starting with several other skyscrapers set to begin construction within the next year to two years. It seems to me to strike an interesting contrast with most other cities.
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Yeah, Boston is booming. New Ritz Carlton will be the city's tallest.
One thing I forgot to mention is that so many of the new towers (on the west coast at least) are financed by mainland Chinese money. If and when that dries up, expect to see fewer new towers. In Vancouver they passed a law making it harder for Chinese to come in and scoop up properties, especially single family houses. Locals were being priced out. But the unintended consequences included a drying up of construction financing for new towers. I don't know about S.F., but in L.A. (as well as Vancouver) many of the new towers are financed by Chinese money (Metro complex, Oceanwide, etc.). Wilshire Grand was a So. Korean project. I believe the Oceanwide complex planned for S.F. is Chinese financed--correct me if I'm wrong. I hope it doesn't happen, because the boom has been fun, but a slowdown (at least) could be at hand.
P.S. what is the latest on the Millenium Tower issue? It was widely covered a couple of months ago. Haven't seen anything for a while. Anybody have an update? Thanks!