I just wanted to pass along something that Ive learned this - TopicsExpress

I just wanted to pass along something that Ive learned this weekend from talking with a couple of downtown property owners. From what Ive been told, there was only one bank in the city that was willing to finance the development of The Renaissance Building on Fourth Avenue. All but the one bank said that residential development downtown was too risky. So right now all eyes are on The Renaissance Building to see if it works or not (and I anticipate that it will). Assuming that it works, we should *hopefully* see a flood of new development around the time the Renaissance is paid or almost paid off as more banks are willing to finance the projects. As a big proponent of residential development, financing is something that I hadnt previously considered as an obstacle. Just wanted to pass it on. *Hopefully all of this is correct, if not, feel free to call me out on it.

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