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  #160  
Old Posted Jan 15, 2015, 10:10 PM
DearSummer DearSummer is offline
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Join Date: Sep 2014
Posts: 11
Quote:
Originally Posted by Twoscents View Post
My feelings exactly.

I feel bad for Simplicity and Dear Summer, this is what you do in your spare time? Seriously! There is actually a lot of good programs on TV right now!

I really don't see why you care if some investor from Ontario loses his money? It's not your money. Regardless if they understand the improbability of this project or not or were influenced by slick marketing, no one put a gun to their head. Investor beware. This thread should be dedicated to Sky City Winnipeg, start another thread to bag on Fortress.

Let's face the facts, Winnipeg doesn't have a big market for pre-sale condos, not a lot of people live or want to live downtown, and its almost a certainty that the condos will be priced above Urban Capital and Sandhu, there is a lot of risk there. They were supposed to announce a grocer and launch sales in 2014 and that didn't happen, so it obviously is taking longer to put their ducks in a row, perhaps it has to do with the addition of the St Regis, maybe there is issues with the planning department, maybe they are going to do rental instead, or add a hotel component, negotiating more city incentives, all worthy things to discuss. Will people buy this project?

I'm an optimist, so I like to go a different direction and look at how it might work as opposed to the reasons it won't.

Just again to be devil's advocate, why if Fortress is "Snake-oil" salesmen, why would reputable developers like Cityzen, Fernbrook, Empire, Sierra partner with them? I'm being serious in this question.

I came across this website and you can search how many houses and condos each developer has built: http://www.tarion.com/_layouts/build...er_search.aspx

Their partners look like some pretty serious guys?
These developers only care that they get money, not where it came from?
Why would the developer care if Fortress rips off investors? It's probably not even on their radar. They aren't responsible for determining how Fortress got the money. When a bank lends you money do you ask them where they got it? Would you refuse to take out a mortgage with RBC if you read an article about them selling junk investments to unsophisticated investors through high-pressure sales tactics?
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