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This case is loosely based on my knowledge over the 2008 international economical crisis with a similar housing enhancement in Moscow. It absolutely was a unique time—and a unique crisis—but many of the criteria are the identical.

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Early the subsequent morning, once the Sunshine was hardly up, Alex placed on a mask and walked from his condominium on the Eastern Sq. internet site. Several months earlier these streets had bustled with individuals.

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1 In late March they’d needed to pause operate, and Alex had considered they’d be working with this virtual Assembly to discuss restarting. Advertising the development was not on his radar.

In my function at Avison Young, I regularly advise persons on decisions similar to this just one. This can be a complicated Worldwide enhancement, and its results is contingent on area organizing approvals, development crews, and tenants requiring new Place of work space—in the midst of a pandemic and an financial downturn. Several transferring components have to have to return collectively.

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