We’ll see. In good times, the builders needed about 40% of the building under contract with hard money deposits before the bank would fund the construction loan. On this project, that would equate to 272 of the 679 planned units.
The email states, “With almost 300 sales to date, we are quickly approaching our sales target. To achieve our goal immediately, Point of View is offering to the next 20 purchasers 5% off on selected units.
Their “sales target” is 679 units, not 300. I would bet that they have about 250 reservations and need the remaining 20 to get to their 40%.
