Marcel is usually in the loop on most things. The comment from Nicholson is definitely more grape vine though. Regardless, it wouldn't surprise me that the tower is delayed in the future. Marcel did indicate that they will design for it in the future. WTC 2 in NYC has been in this state for several years now, yet there is still intent to build. Does not need to be doom and gloom, simply wrong timing to build a tower.
Do permits expire and how much do they cost? (This would suggest they do not expire except for minimum statutory period: no idea how long that is) If the time is indefinite and the cost is negligible, there is really no reason to build a tower in the short term if the current fiscal environment doesn't fully support it. I appreciate that we all want to see development occur, but we also have to look at these projects from the business point of view. Katz is in this to make money - if that means delaying the tower until market conditions are favourable, I imagine that is what he will do.There are permits in right now for constructing the tower portion of BG. The description specifies that the tower will be constructed over the podium, so I expect the tower to still go ahead, though likely not until late this year or early next.