As a real estate attorney, under certain circumstances this is fine….

New development is rapidly approaching from Downtown, while other nearby neighborhoods with similar 1920-1930 homes are being lovingly restored.

I know of a development that just got approval in our town.

You have to check a lot of places to develop that skill.John Corey

Sarina,Some developers in CA will say that every condo conversion has attracted one or more lawsuits.

Sounds like you are wanting to do some developing.

we used to just do residential loans but my eyes and the owners eyes were always looking at bigger and better things.well we started doing international project funding for construction projects such as hotels, casinos, and condo developments (and of course the raw land projects in costa rica everyone seems to love).a few months ago my boss got rid of our residential side and now it is just the two of us.

The main problem that all of these Manhattan style high rise condos have is that the developers appear to be under funded and unestimated the pent up demand from one to two years ago.They marketed their condos at say $500 per sf only to find out that in reality their actual costs to build were in the $800 to $900 per sf range.So they back out of most of the projects.

Or is there opinion that this is laughable, and wouldn't fly under any circumstances?

We have been doing residential investments but recently have been involved in some commercial and land developments.