Quote:
Originally Posted by sdm
I hate to say it but if projects like trillum and Halkirk and UG aren't a go, i doubt this will be either. Maybe in a few years?
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The Trillium developers are still trying to move forward. Apparently a significant number of units in that building are already reserved. To be honest I think the financing angle has been exaggerated. At the end of the day the big bottleneck is that there isn't immediate demand for the thousands of high-end condos that these projects represent.
We will probably see a couple proceed relatively soon and a couple more happen after that, which is exactly the normal pace for development given the economic climate in Halifax. I really doubt that the Harbour Isle developers thought they would be throwing up these buildings all at once.
Office is slightly different but still fundamentally pretty similar. International Place for example needs to be mostly pre-leased to major, long-term tenants before it can proceed.
It's possible that the global economic problems could end up working in Halifax's favour since it's much cheaper than the large cities (though this disadvantage starts to disappear with meddling from council etc.) and maybe there will be fewer labour issues.