Quote:
Originally Posted by left of center
Hope this isn't going to affect Vista in any way...
Once China's richest man, Wang Jianlin is selling off his global empire
Source: http://money.cnn.com/2018/01/24/inve...d=hp-stack-dom
The Chinese government has been concerned about capital leaving the country due to slowing growth there and better investment opportunity for Chinese billionaires abroad, so if Dalian Wanda has to sell Vista, I hope it goes to a developer that will stick to the original plan and design for the building. The chances are low for anything to go awry with this tower, but still a variable that's within the realm of possibility.
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This has been said before, but bears repeating: I think the Vista will be totally fine:
- the tower is nearly 1/3 of the way up, and work will steadily speed up as the gross floorplate is reduced.
- condo pre-sales are still happening (although admittedly, don't know what the current percentage is), as well as already having financing securely in place.
- Worst case scenario, if the building does fall into the hands of a new development partner: Magellan will take the lead (and that's a good thing, because they get shit done), but more importantly, any drastic design modifications will be far too cost-prohibitive (read: many millions of dollars), especially this far along in the process, so I doubt any drastic design changes would even be mentioned, let along seriously considered. The building is moving along pretty quickly, I think the project will be just fine.