Yet Another Bail Out Plan is Enacted
By late 2012, Related Co. bought out Shapiro; Jacobs had long since walked away from the deal. At first, they put units up for rent, an oft used strategy for other failed condo developments. But now it finally seems that buyers may be biting again. Construction has resumed, and a smaller non-Koolhaas sister building is also almost complete. The aim is to have everything done by the end of the year. But that was also the plan last year, and the year before that, and the several preceding that as well. Should we hold our breath?