[Alberta's Child]

I worked on an assignment to review development applications in a suburban town center a few years ago. The town had given approvals for six new condo developments a few years earlier, and before any of them were built, the developers all came back and asked to re-submit their applications to change the condo buildings to apartment buildings.

The story I got from the planning board attorney was that banks were starting to get very restrictive about financing condominium projects, but they had no hesitation about lending money to construct apartment buildings.

[lodi90]

What’s odd is these massive new apartment complexes are flipped left and right by their builders/owners. There must be more to it than simply zoning and banking.