Interest fades in condo project

The Indianapolis Star reports:

The largest condominium project planned for Downtown Indianapolis, struggling to draw buyers' interest, has returned reservation deposits to prospective tenants unwilling to wait for the project to break ground.

The 208-unit, 31-story condo tower, which if built would rise on the former site of Market Square Arena, was supposed be completed this year.
But ground hasn't broken and representatives for the developers, Market Square Partners, said the project is not expected to meet pre-sale requirements needed to secure financing before an Aug. 31 deadline. A new deadline may be set, but that remains unresolved.
Kurt Flock, a local real estate agent marketing the units, said the project's odds of success would be improved if only work had begun. But financing the project required a certain minimum number of ready buyers that, thus far, have failed to materialize

I guess there isn't and endless demand for condos.