RE:RE:Just a thoughtIf the judge sides in the City's favour then financing moves ahead, site gets graded, utiliities are installed and roads are installed. The City may let them build the Central Park building early but is generally against the development rules. That's 2024 gone.
Yolanda says she can supply over 50% of the low to very low income home buyers for the entire project. Excellent.
If that is the case then phase 1 and 2 should sell out immediately seeing as they have over 350 reservations (last I heard).
Cordero needs Sage to move ahead a fevered pace to meet 2025 in Utah.
Free cash flow will be a virtually impossible scenario in my opinion because all the money is going to be needed and accounted for to progress Sage and then start Cordero.
These large developments are happening of many years and accordingly have risks assosciated with these long timeframes.
"All real property investments are subject to elements of risk such investments are affected by general economic conditions, local real estate markets, the attractiveness of the properties to residents, supply and demand for housing, competition from other available housing and various other factors. Demand for residential real estate in the United States could be adversely affected by weakness in the national, regional and local economies, changes in supply of, or demand for, similar or competing properties in an area and the excess amount of units in a particular market. To the extent that any of these conditions occur, they are likely to affect market value for residential building lots, which could cause a decrease in the Company’s future potential sales revenue from the Property" - GRB 2023 MD&A