Quote:
Originally Posted by BVictor1
I heard 6 months ago that this project could sit as is for 2 years. At that time, it was just a rumor, but now it seems to be a reality. This situtation isn't 100% Teng's fault; the markets crashed, banks halted lending and people and businesses found them selves. True, it was dumb for Teng to go into the condo-hotel business. There was competition from Trump and the Elysian, both which are closer to Michigan Avenue, a much more popular area than the Theatre District.
I do, however believe that Waterview is a good product. They floorplans were comfortable and laid out nicely. I do hope that this tower is eventually completed as designed architecturally. I don't care if it's Teng or another developer or bank or insurance company. Whomever! And when I say eventually completed, I'm not talking 10 years. I'm hoping construction resumes within the next 18 months.
We'll see how or if the economy recovers. That's key.
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I know you have been a big fan of this building.....but are you hanging your hope an anything substantive.
Is there a reason for the 18month time horizon ,other than it falls in line with you hearing it could sit idle for 2 years?
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