thatguy

He is not in compliance to the points the NPS set forth for the tax credit. He started building before the finalized the review and the final draft had a ton of changes. Changes he did not have in his build. So he had to spend more money to correct the compliance issue. Who is the idiot developer? It is soely his fault for any issues that have developed. Is this his first development, cause he sure acts like he does not know what he is doing and lost a ton of money in the process. Heck the John Marshall developer may have seemed like an idiot because the building sat empty for many years and had a few false starts, but he was smart enough to stop and restart when funding was sound...and the john marshall is his first. How can this guy, French, pass himself off as real when everything shows to the contrary. Seems his answer for every mistake he made is to ask for a foreclosure in his favor or to have a contract redone into his favor. the guy can not take fault for anything he signed.

If this is permitted to proceed, expect a strong effort of resistance from the people who currently fish there. This site should be protected as one of Richmond's historic fishing spots.

Funny you would post that right after I heard something to the contrary...lol Heard third party through one of the Goodstein people, that they would love to dump the land and would take any reasonable offer on the properties. Guess it will be a while. Why doesn't the style or Richbiz sense do a follow up and see what is going on. We know the RTD won't until someone else does.

Granted, if the market was any different and the same with the lending community, something would be built by somebody. However, given the current environment, that property will sit empty for a while. I'd be curious what the asking price for the property is? Are they asking too much since they have spent a "boat load" on it already?

Any truth to the rumor they are looking to sell the property and bail out on the development?

I just went by the project and noticed that the project's billboards have been altered. Looks like someone intentionally spry painted over certain words on all the info boards. I think it was the part describing how many sqf of office, condos etc. Can anyone remember what was painted over? Not a good sign regardless. Although at this point we all have written this one off....for now.

Agreed!

The market does not allow. Otherwise we would be talking how fast they are building Centennial, versus talking about when they are oing to build.

Interesting about the Hilton. I had heard they were leaving the condos as a cold dark shell and were not presellng any. Were they putting finishings in?

Hilton miller and Rhoads are not even building out the condo units due to the market. They have not even built their sales center and they have financing. Centennial has no financing, so how are they expected to hit presale numbers to satisfy the banks? Even the JM is going lease not buy to get their project to the market...we hope.

Here is a key difference..."The top six floors are residential condos that have already been pre-sold to the developer's families." They spent their own $ to make sure they would hit their presale numbers. Not many developers would do that. A promising outlook though, can't deny that....

my guess is ( from their website) and I know he is local..." Stephen J. Staats, the Managing Partner for the Goodstein Organization of Richmond, has more than 30 years in the Real Estate Development and Construction industries."

now it makes sense to me. I was having trouble following your post as to what was or should be going on. Thanks and I agree. They are floundering, but the project has meat.

Boy do you flip flop. You are saying in one post it will not happen. In another post you say it will. You always seem to be around their lawyers and then down play your entire post. What do you know and what are you just guessing on by picking random thoughts?

This post is your most intelligent post yet ( no offense intended, you have plenty of great post) I think you hit it right on the head...the RTD has not picked up on it...why?