Today’s Boston Herald, has an interesting article about Boston real estate developers that are having a hard time obtaining loans.
Waterside Place, the 11-acre site across from the Boston Convention & Exhibition Center, was expected to open next year with more than 500,000 square feet of retail, a 20-story condominium section and a 300-room hotel. But the project is stalled due to a lack of cash.
“Looking for financing can be very frustrating,” said developer John Drew, president of the Drew Co.
My thoughts. Where are the billions of dollars that we gave to these banks? Who’s getting the loans?
Source: Boston Herald