Quote:
Originally Posted by caligrad
I actually wasn't speculating or guessing.... Before this tower even rose above 5 floors, one of the head people from onni in one of the meetings stated that they wanted to see how the market looked and how well this building sold before they even wanted to break ground on the 50 story and they also said if they felt the market wasn't strong enough that they would pull forward on the other 3 towers before hand until the market worked out for luxury condos. Not speculation. Public hearings and interviews. They may not play the waiting game in Canada but in the USA, different playing field. But who knows. With all the construction going on and planned. They probably feel the market is more than strong to jump start on the 50 story one.
|
Yes, but even the "head people" come up with different stories. (almost every month) Example: John Eichler, Executive Director of Fig Central wrote me in February: "Mr. XXXXXX, the below information that I gave is correct, except for the following Greenland is probably 6+ months away from starting construction; not 12 months."
We all know that they changed the design and the timeline, so I wouldn't trust a word too much.
The Onni Group is used to some projects in the USA (Chicago, Phoenix) They will watch the market, but the US market is good. The tower in Chicago offers 643,323 rentable square feet and the available space is only 17,206 sq.ft... L.A. is growing fast, we got the public transportation and we have billions in Chinese (plus other foreign) investments. I am of course not sure about the 820 Olive Street - Project and the luxury condos, but like I said, I am very positive.