So with all the recent news of Preconstruction condo's being cancelled due to the rising interest rates and market conditions has me really worried about this project.
I have already invested 113 thousand dollars in this property, and it basically is making me sleep uneasy at night every night.
With everything thats going do you guys think that this project will be cancelled? Or delayed for 10 years?
The expected completion of this project was supposed to be 2025 or 2026 but seems this is either going to be a decade wait, or a straight up cancellation leaving us to get a lawyer to recover our funds.
 
Also is there any updated pictures with the construction of this project? It doesn't seem like any standing structure will come any time soon, and will be at least 2+ more years before you see any tower construction.
Being invested in this is very disheartening considering the high likely hood of cancellation / delayal of up to 10 years on this project.

Would like anyones thoughts on this.
 
ktisxiligy said:
So with all the recent news of Preconstruction condo's being cancelled due to the rising interest rates and market conditions has me really worried about this project.
I have already invested 113 thousand dollars in this property, and it basically is making me sleep uneasy at night every night.
With everything thats going do you guys think that this project will be cancelled? Or delayed for 10 years?
The expected completion of this project was supposed to be 2025 or 2026 but seems this is either going to be a decade wait, or a straight up cancellation leaving us to get a lawyer to recover our funds.
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I think your worries are premature.

They are understandable; but to be clear, the developer has now begun construction, that means in all liklihood they have their financing in place, and the development is viable from their perspective at the prices they sold for.

Certainly, there are always risks; escalating construction costs among them. But I think you should breathe a bit easier absent any clear evidence that you should not.

Based on shoring starting right now, the timeline is credible. Lanterra currently has completion listed as July 2025
 
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Northern Light said:
I think your worries are premature.

They are understandable; but to be clear, the developer has now begun construction, that means in all liklihood they have their financing in place, and the development is viable from their perspective at the prices they sold for.

Certainly, there are always risks; escalating construction costs among them. But I think you should breathe a bit easier absent any clear evidence that you should not.

Based on shoring starting right now, the timeline is credible. Lanterra currently has completion listed as July 2025
Click to expand...

Thanks for the calming words, just everything has me worried with the current state of the market.

Is anyone else here invested in this building?

Anyone have any updates since the announcement of shoring/and the 2 or 3 pictures of construction from last month?

I really hope this building does not cancel, or they add major delays, and is indeed ready in 2026.

I also really hope my over 100 thousand dollars in deposit is in great hands, and won't have to go through a 10 year wait just to have a legal battle to try and get my deposit back as Tarrion only covers up to 20 thousand.

Would love to hear any other investors, or seasoned members chime in their thoughts on this preconstruction project.
 
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