I agree, prices could come down some, but I think it may be more than that, and, I know I'm not comparing apples to apples so forgive my rant.
For now, as a developer of single-family projects in suburban (anti-urban) locations, our company will sink millions into a project before the first house is built. I understand that building a condo tower (like The Vue) is perhaps more expensive to build up front, but even we will start construction before units are sold. Right now, we have over $7,000,000 worth of unsold "inventory" in a neighborhood that sold 156 units last year (our average price is $625K for an average of 2600 square feet).
I guess the point is, if I'm a consumer, I want to see product before buying. If a tower in the center of Charlotte isn't selling "quickly" my guess is that it isn't because of a softening of demand, but a result of the reluctance on the part of buyers to purchase something - even with fancy sales offices - "sight unseen".
You all know, the trend in residential development is quickly moving toward "access living" - living in a SF home or condo or apartment - with at least some of our daily trips within walking distance of the home. I have faith that buildings like "The Vue" are inevitable in rapidly evolving cities like Charlotte and even in older - slower growing - cities like my own.
I hope that The Vue gets built. I hope they can make the numbers work to get it built with only 50% of the units pre-sold because I predict that once it's under construction, sales will continue and strengthen as it nears completion.