Quote:
Originally Posted by fotze
No they don't, the devloper can stop halfway through if they planned the project poorly. Notice how the gateway midtown (or whatever it is called) takes absolutely no responsibility of the project being halted on themselves. It was something completely out of their control, the construction costs, nothing to do with their timing or proce structure or sales.
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You're correct fotze. I think the majority of projects (especially smaller ones) will still go up. I was looking in Panorama at some of the duplexes and townhouses there. The agent was pushing really hard at selling them, but they are not going to be completed for another few months. Some of them have already been framed. I think these smaller ones will be completed as the costs are not as crazy as a highrise. I actually wouldn't be surprised if more of those downtown highrise projects go under in the future.