Centennial Tower

[burt]

I was going to argue that construction fences and barriers have time limits, but old Murphy's Hotel had them up for more than 10 years.

I still view this latest Goodstein move as a positive. Something will go up on that property despite all the recession talk.

On the other hand, the present vacant lot across the Lee Bridge would be preferrable to the watered down suburban complex that apparently will replace the plans for the Manchester towers. Once it is built, it's goodby forever to towers on the site.

[wrldcoupe4]

Fencing was erected today atop the barricades.

And while it's off-topic, I'll disagree that the Crosland proposal looks suburban.

[TBurban]

And while it's off-topic, I'll disagree that the Crosland proposal looks suburban.

I agree, I wish developments looked that urban out here! I like the rooftop pool, and the courtyards in between the buildings.

[Downtowner]

Im getting excited for centennial tower more and more now. But is the Financing and mortagage part done with or could that still cause problems with this? Are we going to see this project like whats happening with Granby Tower in Norfolk?

[burt]

Im getting excited for centennial tower more and more now. But is the Financing and mortagage part done with or could that still cause problems with this? Are we going to see this project like whats happening with Granby Tower in Norfolk?

Joey, unlike Buddy Gaddams in Norfolk, Goodstein hasn't gone to Richmond asking for subsidies. In this recession climate it is unlikely he ever will because the city would most certainly reject any such request.

Tommy, your eyes are a lot better than mine. I didn't notice a pool or other such amenities in the rendering of the southside project.

By comparison to the original high rise proposal, the Crosland plan has a decided suburban look IMO.

I wish someone could get some inside info on Centennial. Will its residential units truly be strictly condos, or will apartments be added to the mix? Is Courtyard Marriott still expected to be the "boutique" hotel? Will the height be reduced -- or possibly increased?

Remedials (is that the word referrencing asbestos removal, etc?) have already been completed, haven't they? Thus, the construction fencing must mean demolition is to follow.

I'm bullish on Centennial.

[Downtowner]

Burt for me Centennial is much a mystery to me now than it was when I first heard about it about two or three years ago. Im really beginning to wonder if this thing will get built and if that it will go smoothly and not run into major issues or concerns. Because I really dont want to see another giant hole in the ground or a building like granby tower where the building has begun construction but just sits there with no one to finish it causing demolition on the construction site of what progress was made.

[wrldcoupe4]

Apparently, abatement has been completely (rather stealthily I might add!) and demolition is the next step. All of the buildings will be demolished initially except for a small portion of the building at the corner of 6th and Main (why I have no idea).

[jbjust]

Maybe they'll use that building as their construction trailer

[wrldcoupe4]

A minor update:

The image boards along the boarded up storefronts have been taken down. The Centennial advertisement at the corner of 6th and Main is still up.

[burt]

A minor update:

The image boards along the boarded up storefronts have been taken down. The Centennial advertisement at the corner of 6th and Main is still up.

Ryan Ramsey's 6th Street photos of the site showing construction perameters point out how shallow the lot is for Centennial. There is nowhere for this building to go but up!

[Icetera]

A minor update:

The image boards along the boarded up storefronts have been taken down. The Centennial advertisement at the corner of 6th and Main is still up.

They are pulling the advertisements off of the buildings to be demolished, perhaps?

[wrldcoupe4]

That's my guess... maybe they'll hang them on the fence?

[wrldcoupe4]

Free Press update, thanks to Downtown Dave for the head's up:

[burt]

Centennial 25 stories? According to the JM Hotel story from the Free Press above, it is a possibility.

[Shakman]

I would not be surprised if that article is flawed with the specs on Centennial. (i.e. "twin towers") I have heard of different specs from different publications.

My previous conversations with Goodstein mentions that the building will be about the height of Main Street Center.

Unless they they changed the plans... again..., the building will be 20-stories, single tower and about the height of Main Street Center. (of course I would like for it be taller)

[eandslee]

The article also says that construction could begin in the fall of next year, which leads me to believe that contruction won't begin any sooner. I think if we see any action there at all, it will be some demolition and then there will be a stall in action until Goodstein decides to begin building...earliest next fall (one whole year from now). That, as far as I'm concerned, does not sound very promising. Seems there are a lot of kinks that have to be worked out before anything can happen with this project.

[Downtowner]

Also they mention it to be twin towers which really when you look at it, it looks like twin towers but really it is one tower with glass connected to make it look like one tower and not two twin towers.

[thatguy]

They have an agreement, but not the $. By that I mean to say, if they are truly have presales of condos, then there is a magic number before the lender will release the construction $.

Think Granby, hit the numbers...build...miss the numbers, you end up with a hole in the ground like Granby Towers.

[wrldcoupe4]

I really don't think they have presales yet...They aren't supposed to be setting up a sales center where reservations will be taken until early 08.

[burt]

I really don't think they have presales yet...They aren't supposed to be setting up a sales center where reservations will be taken until early 08.

Do pre-sales have to be publicly advertised? Could not, for instance, negotiations have been on-going with corporate entities purchasing units as well as some private committments?

When you consider Goodstein has maintained at least a one-man office in Richmond all these months, and has gone as far as abatements and fencing off the property, it stands to reason some kind of financing is in hand -- or strongly anticipated.

On the down side, I recently passed by Goodstein's Presidential condos in the old Dolly Madison building at Franklin asnd Madison Streets and those windows still look bare to me. Does anyone know what the sales situation is there?

[wrldcoupe4]

Do pre-sales have to be publicly advertised? Could not, for instance, negotiations have been on-going with corporate entities purchasing units as well as some private committments?

When you consider Goodstein has maintained at least a one-man office in Richmond all these months, and has gone as far as abatements and fencing off the property, it stands to reason some kind of financing is in hand -- or strongly anticipated.

On the down side, I recently passed by Goodstein's Presidential condos in the old Dolly Madison building at Franklin asnd Madison Streets and those windows still look bare to me. Does anyone know what the sales situation is there?

Burt, Goodstein must have a presence in Richmond for their other projects whether or not Centennial happens. (Presidential and the suburban condo conversion). Reservations for Centennial have not been taken yet. They will start taking non-binding reservations in February.

[thatguy]

Do pre-sales have to be publicly advertised? Could not, for instance, negotiations have been on-going with corporate entities purchasing units as well as some private committments?

When you consider Goodstein has maintained at least a one-man office in Richmond all these months, and has gone as far as abatements and fencing off the property, it stands to reason some kind of financing is in hand -- or strongly anticipated.

On the down side, I recently passed by Goodstein's Presidential condos in the old Dolly Madison building at Franklin asnd Madison Streets and those windows still look bare to me. Does anyone know what the sales situation is there?

Think Granby Towers, he had the financing which is always based on a presale number. That way the bank gets theirs first. If Centennial has a go, it is based on a presale. So if they miss their numbers, the loan could be in jeopardy.

[burt]

Think Granby Towers, he had the financing which is always based on a presale number. That way the bank gets theirs first. If Centennial has a go, it is based on a presale. So if they miss their numbers, the loan could be in jeopardy.

Somehow I don't think Buddy Gaddams is in Goodstein's league. The latter is a man with considerable investments and financial connections in big markets.

The project may be a big flopper-roo, but my quarter is on completion of Centennial in some form.

But I do have doubts, given the downtown job loss situation, of a tower rising anytime soon at 8th/9th and Cary on the triangle lot.

And I seriously wonder about BowTie's Jefferson Square proposal.

So you see? I'm not a total cockeyed optimist.

[wrldcoupe4]

Somehow I don't think Buddy Gaddams is in Goodstein's league. The latter is a man with considerable investments and financial connections in big markets.

The project may be a big flopper-roo, but my quarter is on completion of Centennial in some form.

But I do have doubts, given the downtown job loss situation, of a tower rising anytime soon at 8th/9th and Cary on the triangle lot.

And I seriously wonder about BowTie's Jefferson Square proposal.

So you see? I'm not a total cockeyed optimist.

I think you'll see more jobs coming downtown in the not so distant future

[burt]

Ryan Ramsey says the image boards that were on the buildings being prepped for demolition have now been affixed to the construction fence.