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Originally Posted by Check the Facts
But we are talking about ONLY completing ONE low rise development and not yet complete on 2nd project (hotel + apartments) then moving on to a "skyscraper." I wouldn't put my money on that thin experience but guess somehow he got lots of Chinese investors to believe in him. Wonder what he said to get them lined up for his project and passing on projects by developers with dozens of large projects under their belts.
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All developers had to have a "first tower" they developed. Isn't that logical? What exactly is the hub-bub?
By the way, projects rarely acquire all their permits before construction starts. Obviously they hope to receive them all as soon as possible, but that isn't always possible since it's ultimately up to the city's permit office to issue them, and if there's a backlog like there is in my city it can take longer. Furthermore, projects will start the work on the part of the development/construction process that they have the permits for so far. Obviously they can't start work without one or they'd be in violation of city rules. However, they don't need ALL the permits to start on some of the work. For example, even without finish out permits for the interiors they can still pour concrete for those floors for those units and even put in the windows and complete the exterior. And I would never rely on what the media says. Most of the time they jump on a story prematurely simply so they can be the first media outlet to report the story. Developments also almost always have some ceremonial groundbreaking weeks and even months ahead of the actual start of physical site prep and construction. It's a chance for the suits to pose for pictures with the media.