CANCELED: Divinity Development

[Mith242]

It's just going to take time unfortunately.

With rising costs in construction, limitations of concrete, cranes, etc, and the ever rising price of oil projects are just going to take longer. It also doesn't help that Winter will be here shortly and most big project developers don't like starting in Winter as construction is halted more often than in the Spring or Summer.

true, but as I said before, I wonder if some developers are waiting to see if anyone back's out. Now that the condo trend has cooled off nationally and we had quite a few pop up here you have to figure if some of them might be reconsidering.

[CellarDoor135]

I'm just wondering if some of these developers are getting cold feet, having problems, or think there's too much development going in now and are just in a holding pattern. I guess I wouldn't be too surprised if at least some of the developments are eventually dropped. I don't think any of the Barber Group projects will. I do hope the Lofts at Underwood Plaza goes through, it was a pretty nice one.

My uncle just bought a loft at the Loft's at Underwood Plaza. They said that construction is supposed to start before Oct.

Atleast that's one project still going on. AMA really knows what they are doing and I would not expect them to pull out on any of these projects. Collin Haynes and Greg House as well. I do not think they would propose these things just to test the waters.

Speaking of AMA. I just heard of their plans of turning the Bank of America into cool shops. I don't know if this was part of their original plans but this whole thing is sort of turning out like the Peabody and the Peabody place in Memphis. The guy who designed the Peabody place in Memphis is working on the crew with this whole East Square re-development. Interesting

[Mith242]

My uncle just bought a loft at the Loft's at Underwood Plaza. They said that construction is supposed to start before Oct.

Atleast that's one project still going on. AMA really knows what they are doing and I would not expect them to pull out on any of these projects. Collin Haynes and Greg House as well. I do not think they would propose these things just to test the waters.

Speaking of AMA. I just heard of their plans of turning the Bank of America into cool shops. I don't know if this was part of their original plans but this whole thing is sort of turning out like the Peabody and the Peabody place in Memphis. The guy who designed the Peabody place in Memphis is working on the crew with this whole East Square re-development. Interesting

Cool that's good to hear. I'm going to use your quote over to the Bank of American topic also.

[razorbackfan]

My uncle just bought a loft at the Loft's at Underwood Plaza. They said that construction is supposed to start before Oct.

Atleast that's one project still going on. AMA really knows what they are doing and I would not expect them to pull out on any of these projects. Collin Haynes and Greg House as well. I do not think they would propose these things just to test the waters.

Speaking of AMA. I just heard of their plans of turning the Bank of America into cool shops. I don't know if this was part of their original plans but this whole thing is sort of turning out like the Peabody and the Peabody place in Memphis. The guy who designed the Peabody place in Memphis is working on the crew with this whole East Square re-development. Interesting

Does the Underwood Plaza have a website? I've seen a site for the Legacy, but not underwood yet.

[Mith242]

Does the Underwood Plaza have a website? I've seen a site for the Legacy, but not underwood yet.

Here's AMA's website. It's been a while saince I checked it, I'll have to see if it's been updated recently. You'll see a number of other familiar projects on there as well.

http://www.amaregi.com/

[mcheiss]

My uncle just bought a loft at the Loft's at Underwood Plaza. They said that construction is supposed to start before Oct.

Atleast that's one project still going on. AMA really knows what they are doing and I would not expect them to pull out on any of these projects. Collin Haynes and Greg House as well. I do not think they would propose these things just to test the waters.

Speaking of AMA. I just heard of their plans of turning the Bank of America into cool shops. I don't know if this was part of their original plans but this whole thing is sort of turning out like the Peabody and the Peabody place in Memphis. The guy who designed the Peabody place in Memphis is working on the crew with this whole East Square re-development. Interesting

Sweet. Good to hear construction will start soon.

If I could afford one, I'd definately go for it.

[Mith242]

Hopefully they'll decide something soon on this lawsuit. I don't think construction will start until this has been decided. Even though the lawsuit isn't firected towards the Barber Group it could still hold up constrcution. They're trying to get it thrown out because the Barber Group wasn't mention in the original lawsuit. All of this stems from the fact that people think that city officials approved this because of the economic impact when they aren't supposed to let that affect their decision. I haven't quite figured out why you can't let that affect your decision.

[OnDickson]

Hopefully they'll decide something soon on this lawsuit. I don't think construction will start until this has been decided. Even though the lawsuit isn't firected towards the Barber Group it could still hold up constrcution. They're trying to get it thrown out because the Barber Group wasn't mention in the original lawsuit. All of this stems from the fact that people think that city officials approved this because of the economic impact when they aren't supposed to let that affect their decision. I haven't quite figured out why you can't let that affect your decision.

At least one of the parties to the lawsuit believes that the suit can indeed halt the Divinity Project altogether. Word is that they also believe that the Barbers might be just a tad bit overextended with the rising construction costs and cooling condo market (as evidenced by the lackluster sales of the Legacy Building units). They are thinking (hoping?) that the Barbers are having second thoughts about the project and that some of their investors are very skeptical already and that they may use the lawsuit as reason to bail on it. Now that being said, I do not know if that is speculation on their part or not. He did preface this info with "well, we've heard that the Barber Group.......". Maybe it's just a little spin for their side. Whatever the case, I hope their is a quick resolution and this project can move forward ASAP.

[mcheiss]

Hopefully they'll decide something soon on this lawsuit. I don't think construction will start until this has been decided. Even though the lawsuit isn't firected towards the Barber Group it could still hold up constrcution. They're trying to get it thrown out because the Barber Group wasn't mention in the original lawsuit. All of this stems from the fact that people think that city officials approved this because of the economic impact when they aren't supposed to let that affect their decision. I haven't quite figured out why you can't let that affect your decision.

I thought the lawsuit was just against the city council?

[OnDickson]

I thought the lawsuit was just against the city council?

That's the way that I understood it and what the articles in the paper have stated, but that's not the impression that at least one of the parties to the suit is operating under. That's why I am hoping for the speediest resolution to this mess as possible. It would be a shame to jeopradize this project due to some legal technicalities.

[mcheiss]

That's the way that I understood it and what the articles in the paper have stated, but that's not the impression that at least one of the parties to the suit is operating under. That's why I am hoping for the speediest resolution to this mess as possible. It would be a shame to jeopradize this project due to some legal technicalities.

I don't know if the judge has ordered a hold on this project or not, I don't think the Barber group has been listed as a Defendant.

[Mith242]

Yeah supposedly the Barber group wasn't mentioned in the original lawsuit but for some reason it's still holding up construction until some of this is settled. That would be really disappointing is the speculation about the condo market is true. A lot of Dickson St developments haven't even started yet. While I do think that maybe there are more than there is demand I'd still really like to see many of the current projects that have been mention go forth. I'm hoping once the Legacy gets a little further along in the construction more interest will develop.

[Mith242]

The more I think about the condo issue I also wonder if there are other aspects to the situation. I wonder if there could still be demand for condos but if people here aren't ready for the larger type condo developments and prefer the smaller ones. Maybe people just aren't interested in the type of condos the Legacy is offering. I haven't really looked at prices but I am assuming that perhaps the Legacy condo prices are perhaps higher than some of the other condo prices at other existing developments.

[vbfl85]

Mith242 hit 10,000 post, Congratulations!!

[mcheiss]

Mith242 hit 10,000 post, Congratulations!!

Yes, Congrats Mith!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

[Mith242]

Mith242 hit 10,000 post, Congratulations!!

Thanks. Things have been a little busy on here lately and the posts have been adding up. I knew it was going to be happening sometime soon.

[mzweig]

Yeah supposedly the Barber group wasn't mentioned in the original lawsuit but for some reason it's still holding up construction until some of this is settled. That would be really disappointing is the speculation about the condo market is true. A lot of Dickson St developments haven't even started yet. While I do think that maybe there are more than there is demand I'd still really like to see many of the current projects that have been mention go forth. I'm hoping once the Legacy gets a little further along in the construction more interest will develop.

I agree with you 100%, Mith. And I also think you are on-target about the big units and the real demand being there for smaller ones.

[Mith242]

I agree with you 100%, Mith. And I also think you are on-target about the big units and the real demand being there for smaller ones.

Yeah overall there still seems to be more people who seem to want Fayetteville and the rest of the area for that matter to have more of a smaller city type feel to it. While there are some more urban aspects popping up in the metro I still wonder how long before more of these aspects are more accepted.

[mzweig]

Yeah overall there still seems to be more people who seem to want Fayetteville and the rest of the area for that matter to have more of a smaller city type feel to it. While there are some more urban aspects popping up in the metro I still wonder how long before more of these aspects are more accepted.

Change is inevitable. As the land in town gets more and more valuable, it will result in taller and more expensive buildings being built on it. That will make it feel more urban. Cheap land = strip malls and subdivisions. Expensive land = mid and high rise mixed use developments.

[masons_dad1]

The more I think about the condo issue I also wonder if there are other aspects to the situation. I wonder if there could still be demand for condos but if people here aren't ready for the larger type condo developments and prefer the smaller ones. Maybe people just aren't interested in the type of condos the Legacy is offering. I haven't really looked at prices but I am assuming that perhaps the Legacy condo prices are perhaps higher than some of the other condo prices at other existing developments.

I know the condo prices at the Bank of America Building start at $500K and top out at $1 Million. I'm not sure about Legacy, but I believe they're a bit cheaper than the BOA Building. I can't imagine Divinity's would be more than BOA.

[mcheiss]

Change is inevitable. As the land in town gets more and more valuable, it will result in taller and more expensive buildings being built on it. That will make it feel more urban.

This can be somewhat said for the UofA. It seems that all new buildings under construction or completed recently (Harmon Garage 8 Floors) and the new Walton College of Business 5 Floors are becoming dense and tall. This comes because there is hardly any land left for the UofA to build on.

[Mith242]

Yes, Congrats Mith!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Oops, here's another post I missed. because I posted mine and then started discussing something else. Thanks Matt.

I know the condo prices at the Bank of America Building start at $500K and top out at $1 Million. I'm not sure about Legacy, but I believe they're a bit cheaper than the BOA Building. I can't imagine Divinity's would be more than BOA.

The Legacy if I remember correctly had a lot of varying sizes. Some were quite cheaper than those but I do think there were some larger ones as well that match the One East Center/Bank of America condos.

Change is inevitable. As the land in town gets more and more valuable, it will result in taller and more expensive buildings being built on it. That will make it feel more urban. Cheap land = strip malls and subdivisions. Expensive land = mid and high rise mixed use developments.

True, I think also maybe the fact that growth is happening so quickly also complicates matters. I think it will also just take a little time for people to get used to the idea this is more of an urban area.

This can be somewhat said for the UofA. It seems that all new buildings under construction or completed recently (Harmon Garage 8 Floors) and the new Walton College of Business 5 Floors are becoming dense and tall. This comes because there is hardly any land left for the UofA to build on.

Yeah the U of A is limited on land although the Quad they built in recent years is just four stories. It also covers quite a bit of land. It's nice how they did it but they could have built it up a little more to better take advantage of the space.

[mzweig]

I know the condo prices at the Bank of America Building start at $500K and top out at $1 Million. I'm not sure about Legacy, but I believe they're a bit cheaper than the BOA Building. I can't imagine Divinity's would be more than BOA.

Last I saw the proposed range for Divinity was $270K-$1.4 million, ranging from $350 to $425 per square foot for "white box" condos.

[mcheiss]

$270K isn't bad. In fact, it's pretty good compared to the rest of the condo developments in NWA.

[Mith242]

$270K isn't bad. In fact, it's pretty good compared to the rest of the condo developments in NWA.

Yeah but of course I think those units sold rather quickly. Granted they are quite a bit smaller too compared to some of the other units. They really do seem to have some interesting variances at the Legacy.