Quote:
Originally Posted by viewguysf
This project is going into the deep freeze for now
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Considering all the money already sunk into it, that doesn't make much sense to me. I can't recall a project that reached a similar stage--foundation dug, most below ground concrete poured, steel and cladding probably ordered and being fabricated--being frozen in San Francisco or almost anywhere in the US (yes, I've seen topped out steel skeletons in Thailand just sitting there but that's different). From an economic standpoint, I don't see how it would make sense.
On the other hand, it's hard to imagine who the buyers would be unless they got a really exceptional price (which could happen). The office REITs like Boston Properties are hoarding cash because a lot of their rents aren't being paid.
BPX itself would already seem to have a full plate:
https://investors.bxp.com/static-fil...c-a7d9500ee3e2
But the Chinese owners might decide to take what they can get to escape. In any case, it really is hard to see a total construction halt now as making much sense, especially given that the project won't come online for at least another 2 years that could be pretty good timing actually.