301 College Street High-rise mixed use development

[gman]

2 hours ago, apaladin said:

Read between the lines, doesn’t want to say it but its dead. Went from originally beginning demo on the garage in August/September this year to being delayed almost a year. 

It is not dead, not even sick. 

[gman430]

15 minutes ago, gman said:

It is not dead, not even sick. 

Agreed. Beach Company has always built what they promise. They have spent too much money already with the architecture, engineering, surveying, etc. for them just to kill it. They also have the general contractor lined up. 

Edited December 1, 2023 by gman430

[gman430]

A 19-story, mixed-use apartment complex next to Greenville’s Canvas Tower — formerly the BB&T building — will likely start construction later this year. 

Dan Doyle, senior vice president of development for Charleston-based Beach Company, said his company has submitted building plans and permit application to the city for building permit approval and a review by building department staff is currently in process.

“While headwinds remain in the capital markets going into 2024, which could impact schedule, we anticipate being able to start on the project later this year with construction taking a little over two years to complete,” Doyle said.

The developer previously expected to start construction last fall.

[apaladin]

Not bad, a year and a half delay with the more than likely much longer delays on the horizon.  Consider it dead or at least not in this decade. 

[SVL]

7 hours ago, apaladin said:

Not bad, a year and a half delay with the more than likely much longer delays on the horizon.  Consider it dead or at least not in this decade. 

“It’s deja vu all over again.” - Yogi Berra

[GvilleSC]

7 hours ago, apaladin said:

Not bad, a year and a half delay with the more than likely much longer delays on the horizon.  Consider it dead or at least not in this decade. 

To put this into perspective: they essentially cannot lease their office building without this project. Sure, it could get scaled back, but there are real negative consequences for not upgrading the land with this project. 

[GVLer]

They should have razed the entire site with a more cohesive mixed use plan. That Canvas building is just ugly. The mural is impressive but that is lipstick on a pig.

[vicupstate]

10 minutes ago, GVLer said:

They should have razed the entire site with a more cohesive mixed use plan. That Canvas building is just ugly. The mural is impressive but that is lipstick on a pig.

That would be throwing out the baby with the bath water.  You could completely change the appearance of the Canvas building for a tiny fraction of just what the demo alone would cost. 

[NewlyUpstate]

Ehh I'm not concerned at all. Inflation is coming down drastically, the economy is starting to churn, rates are slowly becoming more favorable. By this time next year we should be humming along with project activity.

Greenville is going to really explode during the next US construction "boom" period*.  I had visitors from several major cities (Northeastern and West coast) here over the holidays, and our situation is magnitudes better than things they are dealing with.  To me, I feel like we are in the process of jumping on a trampoline and currently at, or right before, the bottom and just about to spring upwards.

*to add some color here. Construction in the US is actually very healthy right now, but residential, commercial,  office, and lodging are down or even over the last 18 months. Infrastructure and manufacturing have been the bulk of the construction activity (both are explosive right now, historically speaking) which can skew how some charts show the story.

Edited January 5 by NewlyUpstate

[gman430]

Hopefully decisions like this will continue to expand: 

https://amp.cnn.com/cnn/2024/01/04/business/carrefour-france-pepsi-rising-prices/index.html

It’s pretty obvious some of these companies especially in the necessity field like food are raising their prices and refusing to lower them just to help their bottom line and profit margins. Has nothing to do with inflation or interest rates. 

[apaladin]

Grocery prices are not just up a few percent but many items have doubled and tripled. Very hard on people and families. 

[distortedlogic]

Huh? What thread am I reading?

[GVLer]

24 minutes ago, distortedlogic said:

Huh? What thread am I reading?

We have moved beyond Greenville sucks to the whole country sucks. Ha.

 

[gman430]

It could be worse. There could be people at Target standing in line for hours and fighting over a $40 cup you drink out of. Oh wait…

Welcome to 2024. The human race is doomed. 

Edited January 5 by gman430

[greenjoesc]

i don't buy into inflation.  People keeping paying and shopping.  What is their motivation to reduce prices?

[apaladin]

23 hours ago, greenjoesc said:

i don't buy into inflation.  People keeping paying and shopping.  What is their motivation to reduce prices?

No other choice unfortunately. Just like gas prices they can charge what they want and people are not going to drive less. 

[gman430]

Unfortunately, with what is going on in the Red Sea and container prices jumping due to rerouting I expect prices to start rising on consumer products again. This will cause inflation numbers to increase and keep the Federal Reserve from lowering interest rates anytime soon:

https://www.cnbc.com/amp/2024/01/10/global-shipping-rates-set-to-surge-as-carriers-avoid-red-sea.html

 

The only saving grace is gasoline inventories have risen to a record high keeping energy prices stable: 

https://finance.yahoo.com/news/gasoline-inventories-rise-to-highest-level-in-a-year-signaling-lackluster-demand-200330618.html

Edited January 10 by gman430

[gman430]

Well, this isn’t good: 

https://finance.yahoo.com/news/inflation-increases-more-than-expected-in-december-090804023.html

[apaladin]

I thought the Beach Company had money and got things done. Guess not, at least when it comes to Greenville. 

[motonenterprises]

8 hours ago, apaladin said:

I thought the Beach Company had money and got things done. Guess not, at least when it comes to Greenville. 

Can you pay for it?  

[gman430]

The only way to fix this is by putting up more walls and fences up around stalled projects downtown. That will fix everything and impress the visitors even more.  

Edited January 12 by gman430

[motonenterprises]

5 hours ago, gman430 said:

The only way to fix this is by putting up more walls and fences up around stalled projects downtown. That will fix everything and impress the visitors even more.  

Or you can build it.

[apaladin]

Went to Atlanta last week. Haven’t been since April and was surprised by all the new buildings and new construction that wasn’t far along. I guess Atlanta developers can afford, get money to build unlike the Greenville ones.

[gman430]

27 minutes ago, apaladin said:

Went to Atlanta last week. Haven’t been since April and was surprised by all the new buildings and new construction that wasn’t far along. I guess Atlanta developers can afford, get money to build unlike the Greenville ones.

The Beach Company is from Charleston not Greenville. Oddly enough though, RocaPoint Partners is from Atlanta and their project downtown is full steam ahead so you might have a valid point. 

Edited January 22 by gman430

[motonenterprises]

10 hours ago, apaladin said:

Went to Atlanta last week. Haven’t been since April and was surprised by all the new buildings and new construction that wasn’t far along. I guess Atlanta developers can afford, get money to build unlike the Greenville ones.

You are comparing a city that has a metro population that is more than the state of South Carolina's total population to Greenville. How does this make any sense?