Quote:
Originally Posted by Bunk
Arriva sold just fine (even though it was a risk to go for a high-end project in that location back then), his problem was he overpaid for land and way to much of it all over the Beltline - right before the crash). ...
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Again, not to belabour this particular point, but many other new condo buildings in the Beltline survived the crash and sold out. Keynote was selling above Arriva's price levels and did very well. All Cove Properties, Procura and Qualex-Landmark condos sold well too and they did not contribute much to infrastructure upgrade costs to my knowledge despite adding thousands of new residents to the inner-city. Torode got into all sorts of financial trouble with Arriva, because his costs went way above what his condos could sell for. Infrastructure upgrade contributions (sewer and 4 St interchange) were a big part of it.