Comments on: Credit Slowing The Raleigh Skyline http://dtraleigh.com/2008/04/credit-slowing-the-raleigh-skyline/ A Downtown Raleigh Blog Wed, 08 Feb 2012 15:32:54 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: RaleighMSA http://dtraleigh.com/2008/04/credit-slowing-the-raleigh-skyline/#comment-294 RaleighMSA Thu, 03 Apr 2008 19:59:00 +0000 http://cophead.wordpress.com/2008/04/03/credit-slowing-the-raleigh-skyline/#comment-294 As lenders become more reluctant to loan under good terms for the borrowers, I expect this to cause some delays, or even cancellations. The Hillsborough is a project that I do not wish to see stalled any longer. I am tired of waiting while the developers scale down. Had they moved forward with the original 32-story version, today the project would have toped out and the terms of the loan would have been far better.<br/><br/>Delays upon delays cause more troubles both in the short and long run, as it is evident, but at the same time I do not wish for developers to fail and set a bad example for other developers. The smaller projects (i.e. Boylan Flats) I do not mind seeing stalled because they should be easier to deliver at a later time. The big projects are the risky ones. As lenders become more reluctant to loan under good terms for the borrowers, I expect this to cause some delays, or even cancellations. The Hillsborough is a project that I do not wish to see stalled any longer. I am tired of waiting while the developers scale down. Had they moved forward with the original 32-story version, today the project would have toped out and the terms of the loan would have been far better.

Delays upon delays cause more troubles both in the short and long run, as it is evident, but at the same time I do not wish for developers to fail and set a bad example for other developers. The smaller projects (i.e. Boylan Flats) I do not mind seeing stalled because they should be easier to deliver at a later time. The big projects are the risky ones.

]]> By: Leo http://dtraleigh.com/2008/04/credit-slowing-the-raleigh-skyline/#comment-293 Leo Thu, 03 Apr 2008 17:30:00 +0000 http://cophead.wordpress.com/2008/04/03/credit-slowing-the-raleigh-skyline/#comment-293 NHB, yes it is affecting North Hills. From the article:<br/><br/>"Kane Realty Corp.'s Lassiter at North Hills condominium project off Six Forks Road also has been delayed. Kane has secured 17 presale contracts valued at a total of $20 million for the 49 available units, but the target number needed for a construction loan keeps moving as the lending market tightens, says Bonner Gaylord, director of Kane's residential division." NHB, yes it is affecting North Hills. From the article:

“Kane Realty Corp.’s Lassiter at North Hills condominium project off Six Forks Road also has been delayed. Kane has secured 17 presale contracts valued at a total of $20 million for the 49 available units, but the target number needed for a construction loan keeps moving as the lending market tightens, says Bonner Gaylord, director of Kane’s residential division.”

]]> By: North Hills Buzz http://dtraleigh.com/2008/04/credit-slowing-the-raleigh-skyline/#comment-292 North Hills Buzz Thu, 03 Apr 2008 15:47:00 +0000 http://cophead.wordpress.com/2008/04/03/credit-slowing-the-raleigh-skyline/#comment-292 Anyone heard if this is affecting any developments at North Hills? I've found some evidence to believe this may be the case, but I'm not positive... Anyone heard if this is affecting any developments at North Hills? I’ve found some evidence to believe this may be the case, but I’m not positive…

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