[iheartphilly]

I think the developer is obviously trying to maximize the gain$$$ based on the purchase price of the land and the favorable location. In order for them to do this, they want to sell or rent as many units as possible, but I think the bankers and/or investors are incredulous to the price tag of the project. In other words, developer's expectation is not aligned to investors/bankers willingness to finance the amount requested . I think that's why this project been stalling for 3+ years. And, with the projection of another year before construction starts, this means not all the behind the scene deals are done yet since I speculate that there are disagreements at the negotiating table. I give it less than 50% chance of it happening, but hope that it does.