“The stars had to align. Loans of that size for residential developments are pretty scarce. You have to shop the world.”
– Harry Huzenis, prinicpal with Jameson Development LLC, warning that yesterday’s news of Lincoln Park 2520’s new $170 million construction loan isn’t a sign of a renewed new-construction high-rise market. 2520’s developers secured their loan from a consortium of banks led by Japan’s SMBC Group.