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Centennial Tower

eandslee

By eandslee
in Richmond

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thatguy Whistle-Stop

thatguy

Posted
Posted

I am not comparing Gaddams to Goodstein. The financing would be similar though. Deep pockets or not, the money is from a lending source which would have presale requirements. If those presale numbers are not met, the project will get stalled or pulled like Granby towers. Lets hope they hit their numbers early into the development, or they diluted the condos down and increased the apt number, so their presale number is low.

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burt Megalopolis

burt

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I am not comparing Gaddams to Goodstein. The financing would be similar though. Deep pockets or not, the money is from a lending source which would have presale requirements. If those presale numbers are not met, the project will get stalled or pulled like Granby towers. Lets hope they hit their numbers early into the development, or they diluted the condos down and increased the apt number, so their presale number is low.

Well, I'm still betting my quarter on Goodstein, whether or not the building is 25 or 3 stories of condos or apartments. I firmly believe the property will NOT end up a surface parking lot.

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eyes Unincorporated Area

eyes

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I notice that Goodstein's website notes that two of the organization's staff are AMA members.

I take this as Asset Management Advisors; which has changed name to Genspring. Genspring's website states:

12 billion in assets from 320 of the countries wealthiest familia. Muy Dinero!

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burt Megalopolis

burt

Posted
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I notice that Goodstein's website notes that two of the organization's staff are AMA members.

I take this as Asset Management Advisors; which has changed name to Genspring. Genspring's website states:

12 billion in assets from 320 of the countries wealthiest familia. Muy Dinero!

Welcome, Eyes.

Here's hoping that Crupi's pep talk yesterday at VCU's Siegel Center has opened eyes about the value of downtown development and that Goodstein and his AMA staff among other possible developers are encouraged to move forward with proposed projects.

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burt Megalopolis

burt

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Isn't it advantageous for developers to move forward with projects when interest rates are low? I'm not very savvy about high finance, but it would seem risk-takers would be encouraged by the present state of affairs. That is, if they have faith that recovery is in the wind.

Perhaps that is why there appears to be movement on the Centennial Towers proposal.

Years ago, when Rockefeller Center was conceived, it was unable (or unwilling) to aquire the corner of 49th and Sixth Avenue which is why there is a gap in the 6th Avenue frontage. The corner 4-story building was occupied by a very popular bar called Hurley's and I believe a famous Upper West Side Seafood Market opened a restaurant there in recent years. The owners of the corner building held out against the giant and flourished. Will this be the fate of the 5th and main hold-outs?

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eyes Unincorporated Area

eyes

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Ahh..... the fate of the holdouts....

The developers failed to secure the building on 6th and cary for the parking lot. The developer failed to get the

parking lot in the back of the proposed building.

The illustration of Centennial Tower was on the rtd in July 05!. It seems that there is no urgency to build ...otherwise it would have been built. The city is making the developer tear down the dangerous situation they have created, .. that's all.

No building permitt will be granted untill they find parking! Three levels below 20% of the block will not put a dent in the amount of parking needed. Maybe if everyone own segways. :)

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burt Megalopolis

burt

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Well, eyes, you certainly don't seem to have much hope for Centennial. Unless you know otherwise, they are just months off their projected start date. I have always heard that demolition and construction would begin in '07. If they start the removal of existing buildings in two weeks, they will be within their original aim of beginning in this calendar year.

How do you know they won't add levels for parking or reduce the number of units if the situation is as dire as you say?

And are we to infer from your comments that the City is requiring Goodstein to dismantle the construction fencing?

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Shakman Burg

Shakman

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Ahh..... the fate of the holdouts....

The developers failed to secure the building on 6th and cary for the parking lot. The developer failed to get the

parking lot in the back of the proposed building.

The illustration of Centennial Tower was on the rtd in July 05!. It seems that there is no urgency to build ...otherwise it would have been built. The city is making the developer tear down the dangerous situation they have created, .. that's all.

No building permitt will be granted untill they find parking! Three levels below 20% of the block will not put a dent in the amount of parking needed. Maybe if everyone own segways. :)

According to a Goodstein official I spoke to a couple of years back, they have most of the parking lot behind the proposed tower. The only portion they do not have is behind the hold outs.

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wrldcoupe4 Metropolitan Area

wrldcoupe4

Posted
Posted

Ahh..... the fate of the holdouts....

The developers failed to secure the building on 6th and cary for the parking lot. The developer failed to get the

parking lot in the back of the proposed building.

The illustration of Centennial Tower was on the rtd in July 05!. It seems that there is no urgency to build ...otherwise it would have been built. The city is making the developer tear down the dangerous situation they have created, .. that's all.

No building permitt will be granted untill they find parking! Three levels below 20% of the block will not put a dent in the amount of parking needed. Maybe if everyone own segways. :)

It is true that they were unable to secure Pollard and Bagby's parking lot and the smaller office building a 6th and cary. Regarding the illustration being published so long ago... they always said that they would not break ground until 2007.

Regarding parking, I heard recently but can't confirm that aside from underground parking, there will also be several floors of parking (not mentioned previously) above the ground and mezzanine levels. I would boost the number of floors as high as 28. Can anyone confirm one way or the other what I heard recently? Parking is certainly an issue and I agree that the small amount of underground parking made this project unlikely to be approved until additional parking spaces were secured.

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burt Megalopolis

burt

Posted
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I believe there is a condo tower going up adjacent to The Carolina Theatre in Charlotte that will have parking at your door regardless of what floor you live on! I can't figure out the logistics of that, but it will severely limit the number of residential units.

Here's hoping Centennial adds parking decks between the ground and, let's say, the 8th level. The boutique hotel, commercial office space and condos could tower above, topping out at about 30 stories.

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eyes Unincorporated Area

eyes

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Maybe these holdouts will turn out to be a positive if they push the building height to 30 stories. Isn't it the shortage of buildable land that justifies skyscrapers in the first place?

Taller is better. Air space should be used. Hope others take suit!

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