They either ran out of money or forgot to get a permit and now can't.
I am building a house and forgot to get a permit to pour a driveway. The county tried to deny it, it took about 4 months to clear up. A road block like that effects funding (banks stop giving releases) and many do not have funds available to pay the crew w/o a loan.
What are some of the factors or reasons why a developer might give up an apartment project?
Give up (stop building) or give up (sell as condos)?
They usually will sell as condo's once the apartments get a little older, they have run their financial life, and maintenance costs are getting higher... they will sell as condos, walk away with profit, and the maintenance is no longer their problem.
If they stoped building, it is because of either money or bad market conditions....
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