Arconic’s advisers have also reached out to other potential buyers, people familiar with the discussions say.
“They’ve told us that other properties in the area are also a fit for an apartment complex by some of these buyers,” said David R. Sartore, general counsel for the AECAA, a division of the Association of Property Developers of America, in an email.
Last month, the AECAA published an estimate of $45 million for the project, which will be built in the southern city of Los Angeles next year. It is expected to cost89 billion to $89 billion in development costs alone, according to the report.
The AECAA, which is backed by numerous industry, business, government and private groups, said it’s been receiving inquiries from developers.
“It’s probably more about who gets involved, and what happens,” Raffey said. “We’re certainly receiving some calls to give people some assurance that projects should be built in Los Angeles.”
“We’re also getting some reports from our customers,” he added.
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