Yea, i do believe this will be residential, therefore no need for a anchor tenant.
Even so the Luxury and Hyper luxury market is quite saturated.
There’s plenty of demand downtown. This isn’t a hyper-luxury project anyway.
With all of the constraints on Chinese capital, I wonder if china Oceanwide will sell this site. It depends, I guess, on whether they’re in good favor politically.
I didn’t want to believe the Chinese govt pressure on Chinese developers spending overseas would affect this tower. Despite it being a different developer here, this still seems like a big red flag .
Chinese billionaire Wang Jianlin’s Dalian Wanda Group has put its last two overseas property developments up for sale, including the $900 million Vista Tower in Chicago, according to people familiar with the matter, in the latest unwinding of a decade-long overseas buying spree that put it in the cross-hairs of Chinese regulators.
Wanda hasn’t made a final decision to sell the projects, and could opt to keep them, one of the people said. Wanda has estimated that its combined investment costs in the projects is $2.1 billion.
The sales would be the latest in a wave of real estate disposals by Wanda in recent months to raise money, amid rising Chinese government scrutiny of how it financed a decade-long overseas expansion into luxury real estate and entertainment assets.
The Chinese exodus continues. Nothing on Oceanwide yet.
I agree. Pizzarotti should buy it.