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Eola Place/Thornton Commons

Jaybee

By Jaybee
in Orlando

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orlandonative Burg

orlandonative

Posted
Posted

And by that you're implying...?

.....The last step before canceling a project all together. Owners are more willing to take a chance and wait, rather than incur a couple hundered thousand dollars in pre-con, only to find out that they can't afford to build their project. They might build the smaller one, but the larger one just doesn't seem to have a chance in hell given current conditions. You guys will probably lynch me, but the best thing to happen for construction right now might be for a couple of these projects to tank. Orlando is in a compromising position compared to most other parts of the country. What I mean is, we have the demand to build projects but costs are way too high. Projects like Orlando City Center for example will never happen if things continue to stay the way they are now. In other cities we are starting to see demand level off at about the same time projects are becoming too expensive to build, no big loss there.

I love all of these possibilities just as much as the next guy, but the flip side just seems to be a bit out of reach.

Just my opinion.

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  • 2 weeks later...
tygger Unincorporated Area

tygger

Posted
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I agree with you. If and when some of these projects fail, someone will be out of work. Nation wide as construction slows down, suppliers and workers will be forced to lower prices. ( I hope anyway))

Has anyone heard for sure if/when they're looking to break ground on Eola Place? They obviously haven't even started demolition yet on that block.

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tygger Unincorporated Area

tygger

Posted
Posted

OK.... not to answer my own question, but I just got some interesting news from JLJ. Its seems they are taking deposits on Eola Place, and I was told that the SOUTH building is going up first... Not the NORTH building that has been labeled as "Phase 1" in most renderings that I've seen (I was told that most diagrams were "mistakingly" reversed). The North building that is near the Sanctuary isn't scheduled to go up until after the south one is done.

With the rise in prices, the change in the number of floors, and now this focus on the south side has me wondering about the entire project. <_<

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otcstockfund Unincorporated Area

otcstockfund

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Posted

I agree with you. If and when some of these projects fail, someone will be out of work. Nation wide as construction slows down, suppliers and workers will be forced to lower prices. ( I hope anyway))

looks like bahgn's eola place aint gonna happen now, market shaking out the amateur developers now, guess is back to running the test equipement co for him hehe.....april inventory numbers out for orlando..17,000!!! only a few more months till it starts to get ugly

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Dale City

Dale

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looks like bahgn's eola place aint gonna happen now, market shaking out the amateur developers now, guess is back to running the test equipement co for him hehe.....april inventory numbers out for orlando..17,000!!! only a few more months till it starts to get ugly

Ugly for some.

Beautiful for others.

Ongoing prosperity for downtown in general.

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firemick Hamlet

firemick

Posted
Posted

Wasn't a big fan of this project to begin with. Feel sorry for the winner of the Name that building contest though. :sick: I am more interested in the CBD & Uptown projects. I believe some projects wind up being test tube babies for market analysis. For example; North Orange condos and The Dome at Lake Eola. :ph34r:

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tygger Unincorporated Area

tygger

Posted
Posted

I don't think this one is quite dead yet. It would seem to me that the Jackson would have to be all but finished before they can start engulfing it with this building. Also, the residents on the northern block on church street (facing the sanctuary) have just been given 30-day notices to vacate. Word from the property manager is that they want to build a sales center for Phase I right there.

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JRS1 Town

JRS1

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I don't think this one is quite dead yet. It would seem to me that the Jackson would have to be all but finished before they can start engulfing it with this building. Also, the residents on the northern block on church street (facing the sanctuary) have just been given 30-day notices to vacate. Word from the property manager is that they want to build a sales center for Phase I right there.

I heard something similar regarding this; that those properties had already been sold to the developer.

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otcstockfund Unincorporated Area

otcstockfund

Posted
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I heard something similar regarding this; that those properties had already been sold to the developer.

they were sold almost a yr ago to the developer.....he was going to buy the two corner lots a of osceola?/church a few months ago but backed out at the last minute

looks like bahgn's eola place aint gonna happen now, market shaking out the amateur developers now, guess is back to running the test equipement co for him hehe.....april inventory numbers out for orlando..17,000!!! only a few more months till it starts to get ugly

almost at 18k now :)

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otcstockfund Unincorporated Area

otcstockfund

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Why do you smile when you say that ?

i think its funny and also dumb for builders to continue building/proposing new developments when inventory is rising at the fastest rate ever and the highest level ever.... if trends continue there will be 20 months of inventory this time next yr(increasing inventory/decreasing sales)........i'm also short TOL, RYL, KBH from last oct and waiting for CME housing futures to get some volume to go short on miami .....those two corner lots were bought by the lawyer that owned two houses right next to it on mariposa, he sold those to the developer and bought the 2 on church street at a higher price asking for a huge profit to the developer which he declined...after 3 months of sitting there and no offers, their up for rent with neg cash flow.........greed kills :D

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Dale City

Dale

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Posted

Undoubtably certain individuals will take a bath. At the same time, it's hard for me to see how ample inventory is bad for Orlando overall.

And of course how many people move to Orlando every year ? Seems to me that we're going to need a bigger overhang than we have now.

Finally, I believe there are ground for separating totla inventory from what is currently happening downtown.

:)

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otcstockfund Unincorporated Area

otcstockfund

Posted
Posted

Undoubtably certain individuals will take a bath. At the same time, it's hard for me to see how ample inventory is bad for Orlando overall.

And of course how many people move to Orlando every year ? Seems to me that we're going to need a bigger overhang than we have now.

Finally, I believe there are ground for separating totla inventory from what is currently happening downtown.

:)

any abnormally high supply in anything is bad (real estate/gold/equity/cash)....hopefully your prepared for the decline :w00t:

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