[summersm343]

Originally Posted by McBane

At this point you have to wonder about this project's viability; or rather the owner's commitment to actually building something here. Taking a look at Summer's post in the main thread, it seems that new/converted apartment buildings are cash cows. This was first proposed in 2013 which is probably about the time that the Granary was under construction and that building is now 95% leased if I recall.

Now it's possible this building missed the apartment boom. If we're not close to saturation yet, then surely when all these other, more serious/advanced proposals become reality, it may be too late for this project to make financial sense. If they had just moved forward with this in 2013, or even when the property was sold in mid 2014, it would probably be completed and mostly leased by now.

We're not close to saturation at all with the apartment market. All analysts are predicting maybe by 2020 we could reach saturation if job growth doesn't increase or we don't hit another economic bubble.