The Barrel Yards | 25 fl | U/C

[Drake]

I got it from Chris Pidgeon of GSP that the play at work here is that yes 2 towers will be condos, however rather than delay the project by having to sell units prior to construction starting, they would take the hit and build it with their own dough. Apparently it is easier to get financing in this scenario for them and allow them to break ground sooner.

I would imagine once the project moves along, and the units fill up, converting to condos of the two designated buildings won't be as difficult a task.

The downside as a possible future condo owner would be that they would essentially call all the shots until they sold the units as no one would be able to out vote them on any and every issue.