There's a building in development just down the road from me. It's been in a half finished state for almost two years. It spent the year before that as a hole in the ground. The lot next to it has finished one highrise and nearly completed another and a group of town houses in the same time period. The unfinished site also has a far smaller crew there regularly and will go weeks at a time with no activity.
I figure the other developers keep running out of money. To be fair, developers of the completed building, Leddingham-McAllister paid people to come from China to buy units. I spoke to a few of them one day when I seen them lined up down the road.
The company paid for their airfare and hotels so they could come purchase suites in their apartment complex. This was before construction actually started. I never seen any lineups of paid foreign buyers at the other one.
On another note, all the developments that have been completed in the almost ten years i've lived where I do, have remained at least half empty. Most of the suites have never had lights on orbeven curtains put up since they've been built. No ones ever lived in a good majority of the empty suites around me.
And at least one group of them are used for prostitution. I regularly see ads posted nearby offering girls $2000 a week and such to live and work in the buildings.
I figure the other developers keep running out of money. To be fair, developers of the completed building, Leddingham-McAllister paid people to come from China to buy units. I spoke to a few of them one day when I seen them lined up down the road.
The company paid for their airfare and hotels so they could come purchase suites in their apartment complex. This was before construction actually started. I never seen any lineups of paid foreign buyers at the other one.
On another note, all the developments that have been completed in the almost ten years i've lived where I do, have remained at least half empty. Most of the suites have never had lights on orbeven curtains put up since they've been built. No ones ever lived in a good majority of the empty suites around me.
And at least one group of them are used for prostitution. I regularly see ads posted nearby offering girls $2000 a week and such to live and work in the buildings.