A friend forwarded an email to me, recently received from Pradella, that included the following:
"Pradella have adjusted the pricing of some of the apartments in ‘Reach’ at Waters Edge. We have now sold 50 apartments, but we need to keep moving toward our pre sales targets, hence the pricing adjustments. The 1 beds have not been adjusted, but some of the 2 bed plus 1 bath, and 2 bed plus 2 bath have, and there are some very good buys to be had."
My guess is that no construction will commence until there are about 100 pre-sales.