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Grandview Heights/Coose Hollow Condo Complex

Mith242

By Mith242
in Northwest Arkansas

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masons_dad1 Town

masons_dad1

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Well they will be built before the Renaissance will. Or at least one of their buildings should be built before the Renaissance. But I was referring more to the current condos developments. Perhaps the Legacy isn't considered enough of a luxury. I thought they had some over $1 Mil as well.
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Aporkalypse City

Aporkalypse

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There was a full page ad on the inside of the front cover of D magazine (Dallas' main cultural/leisure/dining magazine) for Grandview Heights, which kind of surprised me. The upscale condos in the Uptown and Arts Districts of Dallas are advertised in D Magazine a lot but I thought it was interesting they put up the bucks for that ad.

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masons_dad1 Town

masons_dad1

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There was a full page ad on the inside of the front cover of D magazine (Dallas' main cultural/leisure/dining magazine) for Grandview Heights, which kind of surprised me. The upscale condos in the Uptown and Arts Districts of Dallas are advertised in D Magazine a lot but I thought it was interesting they put up the bucks for that ad.
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KJW Burg

KJW

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Anyone see in the paper today the article about these lakeside condos?

The gist of the article: "Construction at the ground level is proceeding, and if the weather is good these will start rising from the ground in March...otherwise it could be as late as June. Sales are also doing very well."

No offense meant to anyone, but after all this stop/start news about other projects its nice to see these proceeding apparently smoothly.

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Aporkalypse City

Aporkalypse

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I think the people that are building this project are smart by doing it in phases. Demand will probably eventually be there for all of the buildings but it's certainly there for one right now.

That's the problem with building a single tall high rise the way Barber wants to do, it's a gamble. I thought from the get-go the way to build a project in the Pinnacle area would be to build two 10-15 story towers. Build the first, including the hotel, and when all of the condos are sold and you have the new one half-presold build the other.

Just my two cents.

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Mith242 Gigalopolis

Mith242

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I think the people that are building this project are smart by doing it in phases. Demand will probably eventually be there for all of the buildings but it's certainly there for one right now.

That's the problem with building a single tall high rise the way Barber wants to do, it's a gamble. I thought from the get-go the way to build a project in the Pinnacle area would be to build two 10-15 story towers. Build the first, including the hotel, and when all of the condos are sold and you have the new one half-presold build the other.

Just my two cents.

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KJW Burg

KJW

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Had an interesting visit at the tire store...struck up a conversation with a man who's a project manager at Grandview Heights.

He said:

- There appears to be interest in these condos from people who own other such properties along the U.S. gulf coast. Reason? These condos can be insured, whereas post-Katrina a lot of folks in AL, MS, FL, LA cannot get insurance on their properties. (I hate to hear that.)

- We don't get hurricanes up here, obviously. But this manager said the Grandview Heights condos are being built with lots of concrete to enable them to take a direct hit from an F-4 (old Fujita scale) tornado.

- He said the opposition to this project has come from a small group of people who, rather than being Arkansas natives, have moved to this area in the past decade.

- This man dreams BIG...he sees some things in NWA that I wouldn't have envisioned. (I mean, THIS big.) May or may not happen, but it was fascinating to hear his enthusiasm.

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KJW Burg

KJW

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Had an interesting visit at the tire store...struck up a conversation with a man who's a project manager at Grandview Heights.

He said:

- There appears to be interest in these condos from people who own other such properties along the U.S. gulf coast. Reason? These condos can be insured, whereas post-Katrina a lot of folks in AL, MS, FL, LA cannot get insurance on their properties. (I hate to hear that.)

- We don't get hurricanes up here, obviously. But this manager said the Grandview Heights condos are being built with lots of concrete to enable them to take a direct hit from an F-4 (old Fujita scale) tornado.

- He said the opposition to this project has come from a small group of people who, rather than being Arkansas natives, have moved to this area in the past decade.

- This man dreams BIG...he sees some things in NWA that I wouldn't have envisioned. (I mean, THIS big.) May or may not happen, but it was fascinating to hear his enthusiasm.

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Mith242 Gigalopolis

Mith242

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Things seem to be at a stop on this development. According to KNWA no work has been done since early July. The developer says that things are still on schedule and that they are simply waiting for a building permit. But I guess we'll have to keep an eye on this. This won't be the first development to claim everything is okay then later admit it's not. But let's hop this really is the case this time.

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KJW Burg

KJW

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Things seem to be at a stop on this development. According to KNWA no work has been done since early July. The developer says that things are still on schedule and that they are simply waiting for a building permit. But I guess we'll have to keep an eye on this. This won't be the first development to claim everything is okay then later admit it's not. But let's hop this really is the case this time.
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andrewjensen Whistle-Stop

andrewjensen

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from the article ...

Doug Szenher, program coordinator for the Arkansas Department of Environmental Air Quality public outreach and assistance, said the developers have not outlined an irrigation system for the facility and have not provided financial assurance that the developers can finance the irrigation system for the next five years.

Szenher said E&S Development and Properties was notified of the needed additions about one month ago and "the ball is now in their court."

and ...

Nicky Dou, owner and principal broker for Element Realty, the exclusive listing agency for the condos, said developers have not secured funding but are working with an out-of-state bank to finance the venture.

Dou said she had been told that bank officials were waiting on the sale of additional condominiums so that half the apartments were sold before they provided funding for the next portion of the project.

in the current credit/real estate climate -- nationally and in the Northwest Arkansas market -- it should be no surprise a bank would hold funds until half the first phase of the project is sold. as it should be no surprise with the incredible disturbance to the landscape up there that the DEQ would want to know it would be maintained. I believe they need to sell five more condos to reach 50, so they're not far off.

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