CondoAdvisory Blog

I guess it comes as no surprise that the city is injecting money into the Olympic Village to help insure the Developer, Millennium finishes the project.

Now I understand that it is not an option, weather to finish or not as we will need it come 2010, but Millennium is a private developer like all others, and I don’t see anyone bailing out other projects that have run into trouble or gone over budget. It is not like Millennium is a small time developer without any money, in business you have to take the good with the bad and I don’t think it should be different for them. I am sure they were very happy to land t his project in the first place and the fact that things have changed is just part of doing business. I have not looking into the details yet so I am not sure if this is a loan or just a cash injection. Either way I don’t feel it is right, Millennium should step up and live up to its obligations. If they do not I can’t see it helping their reputation in the future.