New becoming newer....Revived projects.

There has been some recent articles highlighting urban projects that have failed and also announcements of receivership, foreclosures and bankruptcy. While these are ugly words and traumatic events to developers, it's a natural progression given our current market. Greedy developers, unrealistic market demand, speculative buyers and poor financing has caused this and it's probably a good thing. Our values did not equate to the product and location. This now will allow new developers to re-concept the product based upon the true fundamentals of the market and it's demand. This will allow these critical projects to survive, thrive and add to the urban community. I applaud those new developers for their ability to see great opportunities and playing a role in the turnaround.