Amid the current global financial credit crisis rumours are starting to swirl that the Vancouver Athletes Village being constructed by Millennium Development Corp. on the shores of South East False Creek could be in serious financial trouble.
Fortress Investment Group, a large private-equity establishment out of New York who provided much of the funds has apparently been monitoring the project and their reported cost overruns very closely.
The City of Vancouver also recently held an emergency review of the project since they are apparently on the hook to completely the $1B project should the current financing methods be recalled.
Read more on these major rumours here.
Subscribe to:
Post Comments (Atom)
Posts
No comments:
Post a Comment