After all that, 300 E. Main on hold?

Even though we all got our panties/briefs in a wad about 300 E. Main, it shouldn't really come as any surprise that a massive project like this one might have trouble securing financing. After all, the commercial credit market isn't in any better shape than its personal counterpart. Projects all over the country are stalling, or restructuring.

For most commercial projects like this one, banks normally require a certain amount of pre-sales and/or pre-leasing. But in these times, with less money in the system, even a project that exceeds criteria could have trouble getting bank funding (see Why this 'credit crisis' hits everyone from the Wall Street Journal).

It's too early to tell what the impact of the economic crash will actually be on 300 E. Main, and it's not the only issue remaining to be resolved, as noted in Sunday's article in the Chapel Hill News: Economy could hold up project. But here's a great overview from the Minneapolis Star-Tribune: Commercial real estate feels pinch.