Tower 101 | 175m | 50s | Regency Developments | DER + Associates

What do you think of this project?

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Yes, some bad luck, but this company sure seems to have a lot of "bad luck" with more than one site. At some point bad luck becomes bad management.

So ok the Marriott deal fell through, but that would have been way over 5 years ago. IMO it probably would have been better to not demolish the existing building. All it shows they are committed to is demolition and spending money sooner than needed. Again a bad decision and also poor asset management. Lastly, if you can't make a go of it, just sell it to someone who may be able to do better, take the loss and move on.
To me Regency seems more of the opportunist type of developer if it will be cheapest for himself. Otherwise to keep things cheap, either move at glacial pace or agree to one thing then come back crying the blues that it is no longer viable and demand changes. With the track record of this company I think of the old saying, "Fool me once shame on you, fool me twice shame on me."
There are developers who figure out how to make money, build nice things that satisfy market demand and then there are companies that just sit on things and I don't think have the capacity to come up with good ideas.
Not trying to defend Regency necessarily, I also really don't like the way they do things, and think in recent years they've done more harm than good to downtown by essentially just taking perfectly good buildings and turning them into pits and/or empty lots. More just trying to say that it wasn't necessarily all just incompetence on their part that led to the abandonment of Tower 101 specifically, there were a number of factors outside their control that likely played a pretty major factor in this particular project. Like Valley Line delays, COVID and the general economic down turn that followed, etc.