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Originally Posted by CIA
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Sorry to sound pessimistic, but I'm a bit skeptical. If you look at their projects, they've only developed one ground-up building--an 8-story office tower in Paris--and that was a joint venture. Other than that, it seems like they do more paper-pushing than bricklaying. "Repositioning debt" is one thing, but it's a whole other level when you have to deal with contractors, all sorts of construction permits, engineers, unexpected geological features, architects, and investors all at once.
Is there a chance for public comment at JCRA meetings? If so, it would be great if somebody who's going could ask them about how their development experience qualifies them for a project of this magnitude, and about how far along they are on bringing in partners for a joint venture...
They'll probably need to get a real developer on board with serious ground-up construction experience to realize this project.