Quote:
Originally Posted by WhipperSnapper
Last few pages have been hilarious. How do you expect shoring operations to proceed with the old foundation still in place? It will have to ripped out and backed filled. Fortress has been a partner in dozens of completed condos in Ontario. Shady, yes, like everything else with the condo development but, hardly a scam. There are dozens of mortgage or equity groups out there providing hundreds of millions to keep the booms going. Preconstruction sales is the deciding factor whether a project move forward into construction. You guys are too concerned about some completely arbitrary, overly ambitious targets set 5 years ago.
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A few points of clarification:
-Fortress hasn't developed any building that I am aware of. They have been involved as a financing partner in some completed projects. They have not been the developer on these projects. The difference in roles is important.
-"Shady" could be an adjective used to describe many development companies. However, I would argue that not a single other developer have a CEO (Jawad Rathore) and CFO (Vince Petrozza) that have been banned for life by the OSC and MFDA and fined millions of dollars. There's levels of shadiness.