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Development Update: Waterview

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Just in case real live construction didn't do enough to persuade, Crain's is now reporting that a Related Cos-led development group has secured a construction loan for Waterview Tower. $115M oughta help right the ship. With this knowledge, it's a heck of a lot easier to have faith in the rescue plan which aims to complete the stalled project as a 59-story, 500-unit apartment tower. As you'll recall, the original developer aimed far higher but neglected to line up proper financing in advance. More to follow! [Crain's by subscription, previously]