55 West

[JFW657]

55w going purple or just for the rendering?

I think the purple just represents the way the building's surfaces might appear as it's getting dark outside & the sun is almost set.

It's probably because they don't inspire anybody but bankers.

And it isn't "sudden", either.

[depechecureguyorl]

why all the sudden hate for all of our buildings downtown

I wouldn't call it "hate" per se; more like disdain for what's come to fruition. For all the hype, broo ha ha, and pomp given to 55W before construction began, I was expecting something akin to a "feather in the cap". Instead, we get a "bend in the rim" of this cowboy hat. Not to mention this ugly building took 5 years to even get off the ground.

I would prefer to see commercial development downtown rather than empty, cavernous, condo buildings being sold to foriegn investors.

And let's not start with the fact that over 75% of the proposed buildings downtown have gone the way of the dodo. At this point, I'll take the big open cube on the skyscraper roof anyday...at least the pizzutti plot would've had a building on it rather than a field of grass. Just my opinion...

[FrigginGr8est]

Just got this today, doesnt look good:

55 West on the Esplanade

March 13, 2008

Hello,

We wanted to send you an update as to the progress of 55 West. Below is an email we received today from the Developer. They are working diligently to make all the final decisions needed to complete the tower with the best possible use. We are still returning deposits plus interest upon buyer's request. Please call 407-841-5583 or email

[email protected] or [email protected] if you have any further questions at this point. We will keep you updated as we are informed. Thank you for your patience.

Carol Veal & Carri Tisdell

This email is to update you on the current status of the 55 West project.

As you know, the project is in foreclosure by the lending institution. This process is proceeding slowly and we have no indication as to what the eventual timeframe will be. Construction is proceeding on schedule with the following exceptions - We have placed a hold on the further development of the top penthouse floors as there is no market in the Orlando area for penthouses of this size or price point. These floors may remain as an unfinished shell for an indeterminate period of time. We have stopped construction of the townhouse units on the 12th level parking deck - again, no market for this product type. We have ongoing discussions with several possible hotel operators'; however, we are not able at this time to report any success with any of these negotiations. How we proceed relative to any hotel component within the tower may impact the finish of some or much of the lower three floors of the building. Wish we had better news to report; but, as you know the economy right now is a little in question and therefore it is difficult for us to obtain commitments from these hotel companies at this time.

55 West {sodEmoji.|} 54 W Church Street Ste 151 {sodEmoji.|} Orlando {sodEmoji.|} FL {sodEmoji.|} 32801

[depechecureguyorl]

^sigh...I rest my case.

[JRS1]

all I know is that they are still painting the E and W facades. they are also still placing window framings on those top few penthouse levels. what bothers me is not finishing the pool-level townhouse units to complete the deck...

[JRS1]

I wouldn't call it "hate" per se; more like disdain for what's come to fruition. For all the hype, broo ha ha, and pomp given to 55W before construction began, I was expecting something akin to a "feather in the cap". Instead, we get a "bend in the rim" of this cowboy hat. Not to mention this ugly building took 5 years to even get off the ground.

I would prefer to see commercial development downtown rather than empty, cavernous, condo buildings being sold to foriegn investors.

And let's not start with the fact that over 75% of the proposed buildings downtown have gone the way of the dodo. At this point, I'll take the big open cube on the skyscraper roof anyday...at least the pizzutti plot would've had a building on it rather than a field of grass. Just my opinion...

I remember several proposals including the Pizutti cube circa 1997 that were flushed. But we still got a dozen or more projects from that period. This time around, we got twice that.

All I care about with 55W is that they finish it, get the retail levels occupied, integrate it with the rest of Church St., finish the plumbing that is blocking off the street and the rest of CSS, and see this hard time thru to when the new Hilton and Arena open in a couple or 3 years. I think things should be ironed out by then.

FYI, last night, Corona Cigar was jam packed after the Magic game. it was amazing. that's a feather-in-the-cap project. Urban Flats had a decent bar crowd as well. at one point most of the outdoor seating was occupied-- at both places.... now that was good to see. Downtown's getting it's due... maybe no department stores, but other establishments are coming online little by little. Also, Brix is opening at the old Tijuana Flats locale in about two more weeks, and that will help re-anchor that corner with life again. there's stuff happening...

[bic]

This email is to update you on the current status of the 55 West project.

As you know, the project is in foreclosure by the lending institution. This process is proceeding slowly and we have no indication as to what the eventual timeframe will be. Construction is proceeding on schedule with the following exceptions - We have placed a hold on the further development of the top penthouse floors as there is no market in the Orlando area for penthouses of this size or price point. These floors may remain as an unfinished shell for an indeterminate period of time. We have stopped construction of the townhouse units on the 12th level parking deck - again, no market for this product type. We have ongoing discussions with several possible hotel operators'; however, we are not able at this time to report any success with any of these negotiations. How we proceed relative to any hotel component within the tower may impact the finish of some or much of the lower three floors of the building. Wish we had better news to report; but, as you know the economy right now is a little in question and therefore it is difficult for us to obtain commitments from these hotel companies at this time.

Translation:

"Man, building this thing was a mistake. We couldn't sell the penthouses, townhouses, or even all of the condos, and when we tried to put a hotel in the building to recoup some of our losses, we couldn't make that work either. If we were 10-stories into the construction of this thing we would tear this mother down but since it's already topped off, we're just going to leave half of the building empty until demand catches up with the supply again (don't hold your breath!). By the way, UP forumers, don't expect to see any luxury residential buildings to pop up anytime soon-- there's no market for that anymore. Tradition Towers can suck it."

[JRS1]

^^

Lol!

as for the TT reference, I have a feeling they've got their collective stuff together way more than everybody (except perhaps O'Native) realizes.

[JFW657]

As long as they completely finish the exterior & get something happening at street level I don't much care what happens inside the place. As long as we get a completed LOOKING building on the skyline I'm happy.

This is sort of like what happened in Houston in the 1980's with several of their office towers. They got built then sat empty for years. Same thing happened with the WTC. But, they eventually filled up. So will 55W.

[RedStar25]

excellent point JFW

[prahaboheme]

^^

Lol!

as for the TT reference, I have a feeling they've got their collective stuff together way more than everybody (except perhaps O'Native) realizes.

What gives you that indication? I'd love to believe it, but, ya know...

[uncreativeusername]

As long as they completely finish the exterior & get something happening at street level I don't much care what happens inside the place. As long as we get a completed LOOKING building on the skyline I'm happy.

This is sort of like what happened in Houston in the 1980's with several of their office towers. They got built then sat empty for years. Same thing happened with the WTC. But, they eventually filled up. So will 55W.

For sure. And it's refreshing just to get a glimpse of some honesty coming from inside the market - even though the news is bad, it's at some level reassuring to know the people running this project (now) are rather in touch with reality and not just continuing to blow hot air in all of our faces.

Edited March 14, 2008 by uncreativeusername

[bulldogger]

My mother grew up in Tokyo during WWII and she said that they were told they were winning the war up until the day THE bomb was dropped.

Ah, reflection.

[JRS1]

What gives you that indication? I'd love to believe it, but, ya know...

apparently, the hotel will have in the upper 200's in units; condos will be in the 100's (in number--sorry i can't remember exact numbers; apparently the hotel operator has been working with the architect about restructuring the hotel floors to make it work w/o changing the facade; even the retail level(s) has been altered for the hotel lobby... the operator will make an official announcement sometime and it will be their first presence in CFLA...

this is big b/c 55W can't seem to nail an operator down yet... and TT seems to have this contingency covered already... I don't know the % of condo units that have sold yet... but it isn't that many it seems. and Hardin et al seem to be ready to go once they pull the trigger (to build, not to flush) the project.

I'm not going to fanboi this thing any more than what I posted... but I say remember that Hardin will be done with Paramount pretty soon so I wouldn't be surprised if they break ground the closer Paramount comes to completion. maybe there is a correlation... maybe not... we'll see.

[JFW657]

And like the spokesman for Sea World said of their massive investment in Aquatica, they are looking down the road to when this current economic slump inevitably ends & things heat back up again. If the developers of TT have pockets as deep as has been suggested, while knowing that it will be a couple of years before the building is completed if they got things started in the near future, they might have a real incentive to go forward confident that about the time the place is ready for occupancy the market may come roaring back. And if things take a little longer than expected to turn around, it may be those deep pockets of theirs that they are confident enough in to see them through that convince them to go ahead with the project.

[Hisma]

hah. 55W was the absolute 1st building proposed at the beginning of the boom, and it seems it's going to be the last one to finish. Hell, back when this thread was started in mid 05, even then we were all shocked that they were FINALLY starting to get underway. I think this thing has been going since 2002 or so. So, I don't blame the market for how poor this building is doing. I blame poor management, bad marketing, bad everything. It's just been a big joke after all the constant delays and rendering changes.

55W is such a disappointment-- it was supposed to be Oralndo's featured new development. It's now Orlando's featured joke.

quote from August 05

seems nothing's changed.

Edited March 17, 2008 by Hisma

[orlandonative]

hah. 55W was the absolute 1st building proposed at the beginning of the boom, and it seems it's going to be the last one to finish. Hell, back when this thread was started in mid 05, even then we were all shocked that they were FINALLY starting to get underway. I think this thing has been going since 2002 or so. So, I don't blame the market for how poor this building is doing. I blame poor management, bad marketing, bad everything. It's just been a big joke after all the constant delays and rendering changes.

quote from August 05

seems nothing's changed.

Try to give a little credit. Certainly the originators of the 55W model were definetly way out of their league, but some very talented people were able to pull off what seemed- at least at the time, to be the least impossible of them all.

As far as this whole unfinished look of the lower floors, I pray for them. It is going to be essential that PCL completes the hardscape and re-open Church, thereby making accesss to the establishments that are there more reasonable. As those do better the 55W slots should fill, perhaps some clothong type stores. Building hotels downown is the best way to bring retail with as well.

[sunshine]

clo thong type store???????????

[orlandonative]

oops

[JFW657]

Hey, there's a segment of the population that could always use a good thong store, & I say kudos to anyone willing to step up & fulfill that need!!!!

Be it for or Clo or any other gal.

[sunshine]

I could use a good pair of thong myself.

[JFW657]

I could use a good pair of thong myself.

Not exactly what I was thinking in terms of, but then again you probably don't possess the same attributes as the clientele I was envisioning, either.

[depechecureguyorl]

^ what? only interested in patrons with large assets? (sorry, couldn't resist).

[JRS1]

I guess I was wrong about the paint scheme. it seems to be in line so far with the renderings at the old sales office on Church.

[MAntoniazzi]

The 55W sign on the north side of the building was lit up last night. It looked very nice. This plus what dynetech makes for a very nice night view.