Originally Posted by zok
What about the midtown mile? In 10 years it'll be fully complete and I think it'll be the biggest draw in the city. High end retail, museums, theatre, high end condos as well some apts/low end condos available just a few blocks from the main strip.
Somehow I feel Dewberry may not even break ground at Tenth/Peachtree until long after that. He's been holding onto the land for, what, seven years now already?
On the other hand, his interest payments are finally getting lower to the point where, shortly, his holding costs might be too great, even at the price he paid for the land. I wonder if he's leveraging the appreciation equity he's built up at Tenth/Peachtree (from the increased appraisal over the last seven years or so) to help finance his other projects without investors. That would, unfortunately for Midtown, increase the incentive to not develop it for a while.