Thursday, February 23, 2006

One problem, two solutions

The city agreed to give RSC another $2.5M for their Fountain Square condo project. I thought it sort of amusing that both RSC and PAR were faced with the same problem: rising construction expenses--hence reduced profit margins; but each chose a different solution. PAR chose to raise its condo prices--disgruntling buyers and reducing demand, while RSC decided to ask the city to kick in more money.

Don't ask, don't get?


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