[Signature Tower]

I believe that Signature Tower is still a feasible project, but certainly has some hurdles to overcome. My question and task to the Giarratana Development team is, Are you willing to do what it takes to make this succeed? The sales center does need to improve, the marketing effort has been lackluster IMO, and emailing your distribution list an unedited version of the Fox News interview is just rather silly.

I want this project to get built, because I share all of Tony's optimism and enthusiasm about Nashville. I believe in the future of this city. Just GET IT DONE!!!

[Signature Tower]

It is clear that Signature is very very unlikely to be built. It was always clear (to me at least) that this project was a reach, to put it charitably. The idea that the Nashville market was the right market for the tallest or one of the tallest residential buildings in the world was a little far fetched. The belief that there were enough buyers in an overheated condo market to snap these up was also farfetched. Tony G.'s limited experience as the junior partner in a couple of vastly smaller developments did not suggest that he was ready for this project either, or that he would be able to find lenders. And that was before the complete collapse of the credit markets for residential projects. No lender in its right mind would commit the money for this project in today's environment. It's just not going to happen. The condo boom is over. This project--like Tony's onetime proposal for the site of the horrible Cumberland--will join the ranks of the "concepts never built."

Give me a break. Don't be that cliche "I always knew it wouldn't happen" person. It is/was no secret that Signature Tower is extremely ambitious, and Tony's going to bust his tail to make it a reality. If it doesn't happen, we'll all know why of course. Real estate is not rocket science.