1. You're planning to develop an retail project in the Times Square are of Manhattan and come across the following market projection data for the years between 2010 and 2012. You plan to start your project immediately if there is enough demand for it and it will take 2 years to complete. Construct a basic demand model and tell me either how much excess supply or how much excess demand is projected to exist in the market in 2012. Current Construction Construction GrossNet Vacancies Completions Starts AbsorptionAbsorption Stock 3,000,0002,000,000 30,000,000 4,000,000 26,000,000 20,000,000 SQUARE FEET No answer text provided. 1000000 in excess demand 1000000 in excess supply 2000000 in excess demand