By the time the development is complete, it isn’t owned by the developer. They’re just there to market it and finish the construction. A project like this is bought and sold by investors several times prior to project completion and it’s usually backed by Federal Loan protections so if something like this does burn down, the most recent owner can and will get their investment back, but we pay for it not them when we pay our fed tax. I am sure regardless of the cause and intent of the fire, the owner is really happy and is kissing the ground. What are they thinking anyhow, a 3,000 unit condo complex in downtown “The Hidden” Escondido. lol
