SKYE Condominiums and Hyatt Place Hotel

[dubone]

That seems to show that no sales have been made in a while, right?   I can understand, though, that many people are not comfortable buying condos now sight-unseen.   I somewhat am surprised to see them having no products in the 100K's, but I guess I hadn't paid attention to pricing before.

 

 

It will be nice to see the project completed this year.  Having a hotel for half of it instantly means that pedestrian activity will start almost immediately, even if condo sales are incremental.    Given the success of Epicentre a couple blocks away, plus being the closest condo project to the government center, ought to mean there is some market for the condos, especially now that lending is slowly opening up.

[carolinagarnet]

I didn't think about its proximity to the government center before, but in addition to the local, state, and federal buildings are numerous law offices. This might not be the target market for these condos, but lawyers generally have the propensity to buy trendy condos.

[gman430]

A California-based company has sued the developer of the Skye Condominiums uptown saying the developer engaged in “egregious and unscrupulous conduct” by failing to pay a $500,000 commission after the company helped secure financing for the hotel-condominium project.

More info here: http://www.charlotteobserver.com/2013/01/24/3810554/skye-condominiums-sued-in-dispute.html

[kermit]

^ this place is truely cursed.

 

Guess those rumors about the Catawba burial ground must be true.

[HopHead]

Good grief. I just hope they finish the darn thing already. 

[dubone]

I did not see this coming.   Does this basically mean that they are not successful in making a deal with the hotel company?   I figure that these guys are not fully pros considering they are just construction company owners and got this building at a steal, but I am surprised there is not more 'up and up' in the new iteration of this project.   Please tell me this isn't going to be something that stalls progress.   I bet it won't though, and is just more or less in the legal layer, while the physical layer progresses as normal.

[atlrvr]

It has nothing to do with a hotel company...Small apparantly realized they needed a loan to complete the project, this company found them someone willing to do a loan and Small brothers closed on that loan (meaning they got the money) and apparantly Small didn't want to pay them the full "finders fee".

 

Its a civil dispute and there is no way for them to foreclose, though I'm not sure about their ability to put a lien on the property. 

 

They sure had been moving slow....hopefully this loan speeds it up.

[Missmylab4]

Anyone notice if work is still going on at the site? I haven't been downtown recently.

[Guest]

Anyone notice if work is still going on at the site? I haven't been downtown recently.

Their Facebook page just showed progress shots and it looks to me like it's still trucking along

[ah59396]

Yeah it is still plugging along.  I was actually down near there yesterday and they were doing some exterior work on that fin up on the top of the building where the penthouse is.

[dubone]

So it is not a surprise, but now it is clear that the parts of the rendering that could have potentially been seen as brick turned out to just red colored EIFS with some smaller scaled lines in it.   I would not be surprised if the architect did envision some brick sections but for costs and ease of construction, they opted for the lesser option.  

 

 

has become this:

[Guest]

So it is not a surprise, but now it is clear that the parts of the rendering that could have potentially been seen as brick turned out to just red colored EIFS with some smaller scaled lines in it.   I would not be surprised if the architect did envision some brick sections but for costs and ease of construction, they opted for the lesser option.  

 

 

has become this:

Its quite obvious to me that this will become the ugliest skyscraper in the south.

[tozmervo]

^ I think they're fiber cement panels (like hardiboard) that look like brick. not sure, but thought that might be the case when I went by it last night. whatever it is, it's higher quality than EIFS

[carolinagarnet]

Its quite obvious to me that this will become the ugliest skyscraper in the south.

 

It has been the ugliest skyscraper in the South since they stopped construction. At this point any exterior covering is a huge win.

[orulz]

Its quite obvious to me that this will become the ugliest skyscraper in the south.

Obviously you have never been to Myrtle Beach.

[Urbanity]

I also really don't like the exterior look of the building as planned or as it is going up (saw it last week) but at least it's not the ugliest skyscraper in the U.S. 

 

[Guest]

I also really don't like the exterior look of the building as planned or as it is going up (saw it last week) but at least it's not the ugliest skyscraper in the U.S. 

 

Haha I see that building every day when I go over the Manhattan Bridge on the way to work.

[dubone]

I do not think it will be ugly, just more boring than it could have been.   I'd be happy to hear that they are fiber cement panels over toothpaste stucco, but still not as nice looking as the brick that had been implied in the rendering. 

[TotalLamer]

I can't imagine any high-rise looking cheaper than that POS.

[Urbanity]

^^^Have you seen the Memphis Pyramid Bass Pro Shop designs?

[ssh214]

I don't care how ugly it is just finish the project haha. Every city has ugly buildings but most respectable cities don't have half built eyesores 

[nonillogical]

That yellow surface isn't staying like that right? After that gets covered up I don't think it will be that bad. Yeah a bit disappointing from the renderings, but I think we could all point out a half dozen uglier significant buildings in our downtown alone. 

[kermit]

CBJ had an update in today's issue: http://www.bizjournals.com/charlotte/print-edition/2013/02/08/work-progresses-on-skye-condos-despite.html?s=print

• Condos will begin to be delivered in the third quarter (although they have failed to meet quite a few target dates on the project already)
• 12 units are under contract, 21 are listed, the building will have 69 condo units
• the model unit / sales center will open in March
• The hotel will have 172 rooms and is also scheduled to open in the third quarter

 

FWIW

[dubone]

The yellow is the Georgia Pacific panel insulation.

 

 

I think the delays are probably something that should have been expected given the complexity of changing designs and construction people significantly mid stream.

 

It seems that they are continuing to not sell well, but I always believed that would need to be bought from inventory for the most part, as people are not comfortable anymore with buying future-built condos, especially in the target market for these.

 

I suspect they are now close enough along to be able to correctly call the schedule, especially being vague with a 3 month target timeframe.  I can't wait for it to be finished and for there to be the hotel and residence and restaurant activity going on in what is now a fairly deserted area.

[ScottCLT]

That Verizon building is hideous. But I'm not so negative on the Skye building. It's not groundbreaking to say the least, but I don't think it's horrible...just boring. Maybe it's just that I have wanted this freaking thing to be completed for so long, I'll settle for anything. I am looking forward to the rooftop restaurant, though.