Garrison Lofts

[FALCON1981]

Drove by the site today and didn't see any movement either...

Hopefully things will be back to normal sooner than later. I Hope.

[uptownJim]

Nope -- been "still" for a few weeks now.

over seven weeks... since any actual construction work. I go by to photograph every day (as I do all the uptown construction sites) and the trucks left on or about the 23rd of August. Though I have seen people there (workers of some sort) milling about, you know, just one or two guys, on a handful of occasions.

Every morning I have been keeping my fingers crossed that there'll be a big crew and voila! the second level will be there !!

[uptownJim]

negative, ghostrider.

This is the worst news I have heard in a long time: Garrison at Graham's financing was dropped by the bank that underwrote their construction loans.

I didn't believe it when I heard it today, but I confirmed it through two sources (including a construction biz insider). Still shopping this around for refinancing... I HOPE THIS GOES THROUGH.

It made me terribly depressed to hear this today and again, confirmation this afternoon. Oh well. It was bound to happen at least one time ...

I sincerely hope that Tom can find financing with a major financial institution in order to complete this project.

[New Name]

negative, ghostrider.

This is the worst news I have heard in a long time: Garrison at Graham's financing was dropped by the bank that underwrote their construction loans.

I didn't believe it when I heard it today, but I confirmed it through two sources (including a construction biz insider). Still shopping this around for refinancing... I HOPE THIS GOES THROUGH.

It made me terribly depressed to hear this today and again, confirmation this afternoon. Oh well. It was bound to happen at least one time ...

I sincerely hope that Tom can find financing with a major financial institution in order to complete this project.

As doom as this sounds, I can't see the city of Charlotte allowing a half built structure to sit in plain sight. We're a city of image to much extent.

[uptownJim]

As doom as this sounds, I can't see the city of Charlotte allowing a half built structure to sit in plain sight. We're a city of image to much extent.

oh, I agree! I just certainly hope that it doesn't remain a decrepit set of load-bearing columns on N Graham Street should nothing further happen on this site.

I, HOWEVER, believe there will be angel investors to rescue them!

[Andyc545]

As doom as this sounds, I can't see the city of Charlotte allowing a half built structure to sit in plain sight. We're a city of image to much extent.

I thought the same thing, however I will bring up one freightening example to contradict that statement... The Tower... but I do think this thing won't sit long unfinished before being purchased or taken over in some way to be completed... I thought sales were going good on it?!

[uptownJim]

I thought the same thing, however I will bring up one freightening example to contradict that statement... The Tower... but I do think this thing won't sit long unfinished before being purchased or taken over in some way to be completed... I thought sales were going good on it?!

at a mere 42 units total, in my humble opinion it is hard to judge "how well sales are going" !!

Nevertheless, it saddens me to see this project's demise.... perhaps a parking deck will be erected there in its place ??

[UPTOWNGIRL]

ooooooooh. I hope this does not die on the vine !

[prowl]

Let's not write this project off yet, I want to see it built just as much as anyone. Be careful with rumors. Hell, 'uptownjim' reported that the project was dead in mid-September, but the project was still alive at the time.

[pazzo83]

Let's not write this project off yet, I want to see it built just as much as anyone. Be careful with rumors. Hell, 'uptownjim' reported that the project was dead in mid-September, but the project was still alive at the time.

Uptown Jim also reported that the Vue was pretty much dead, and we can see that his assertion was blatently either misinformed or false. I'd say we take what Uptown Jim says with a grain of salt. They wouldn't erect part of the structure of Garrison Lofts without planning on carrying it through. I think if we wait we will see the completion of this project.

[uptownJim]

Uptown Jim also reported that the Vue was pretty much dead, and we can see that his assertion was blatently either misinformed or false.

Nope - I did not say the VUE was dead. I made my post about the lack of progress and, I did so a day or so before it was announced that the entire sales staff was quitting/let go/whatever you want to call it. I hesitated to post that on this forum because I did not want to reveal that before it became public knowledge.

I'd say we take what Uptown Jim says with a grain of salt.

Thanks. If you truly feel that way, then please private-message me; I will be more than happy to meet you for lunch at my uptown office and tell you about my line of work, if you think I am simply some internet troll who is spewing forth intentional misinformation.

They wouldn't erect part of the structure of Garrison Lofts without planning on carrying it through. I think if we wait we will see the completion of this project.

Of course, Tom Barnes & Co. have EVERY intention of seeing this project through. I for one hope it does follow through -- I want a unit there!! I believe that they are vigorously pursuing other avenues of financing at this time. If you are using a lender who is not as "big-time" as say Wachovia to underwrite your deal, and they are being adversely affected by the subprime meltdown on the consumer side of the lending business -- would it not be unforeseen that a bank could pull its financing? Of course, it's completely possible, their contracts are written that way. Conversely, were a small bank to fail, then their closure would impinge upon all of their pending financing deals.

Anyone seen who has funded a lot of the Uptown projects as of late? No internet research needed; simply go to the construction sites and look at the signs, almost always they list their "development partners" and "financiers" on them. Ever heard of First Indiana Bank? I hadn't, until some developers utilized them... or Agape Funding? Nope, me neither. Not everyone has BofA behind them to construct their projects...

[atlrvr]

There is no need to call out a forumer if they happen to be wrong...it's happened to most everyone on here including myself. I don't recall his exact posts, but I believe he qualified them as second-hand information, so everyone should take that what its worth. That said, hopefully everyone qualifies their rumors to some extent, and nothing should ever be presented as fact, unless you truly know it to be fact.

[dubone]

I'd also remind people that facts change. One day, something could be true, and a new change could suddenly make yesterday's fact false.

Either way, if people are trying to share what they hear in good faith, then I don't see the reason for mocking them if they turn out to be wrong. If you develop an opinion on a poster, then keep it to yourself and move on.

[Raintree21]

This is about the closest project to it so I thought I'd post here.

Anyone know what's going on at the lost across 277 from the Garrison Lofts? It's actually directly across from the silos and directly abutts the freeway and railroad. There was a warehouse looking building there but they tore it down about 6 months ago. Today I noticed that they've started clearing more land around it.

[dubone]

That is the Seaboard Street extension to connect NC Music Factory to Graham Street. You can see it on my rundown map here:

http://www.urbanplanet.org/forums/ipb_seo....185732838-O.jpg

http://www.urbanplanet.org/forums/Map-Acti...cen-t41452.html

[Raintree21]

OK, thanks. It seemed like the lot was a little bit bigger than needed for a road so I thought it might be a new building but that makes sense.

[uptownJim]

Several folks told me last week that Garrison was back on track, but I hesitated to post.

BUT -- and you can all read for yourself, the weekly tab "eye" reported it on page 11 under "Center City Construction Updates:" the Garrison has secured some new financing and is back on track for a mid-2009 completion!!!

I am psyched. This is one of those phenomenal projects that will continue helping this corner of Graham. First it was 626. Now Garrsion. Once Cityview Terrace breaks ground, the march northward will continue! With the Seaboard Street ext., folks from all three of these developments will have a nice, easy stroll over to NCMF. Perhaps some of those Charlotte Rickshaw pedicabs will set up over there once people begin moving in?

[atlrvr]

Great to hear......I agree that this project should help that sketchy under-pass....plus it will be pretty tall, so it will be ineteresting to see a building poking up above 277 when driving on it.

[Justadude]

This would be a great location to experiment with ideas to "redevelop" an intimidating underpass. New lighting, artwork, maybe some kind of functional design... anything to make it more than just a noisy bridge. Since the underpass is right next to new residential development and is almost guaranteed to be a regular thoroughfare for joggers etc., it would be to the neighborhood's benefit to push to have it made a little more friendly.

If this were to happen, who would have jurisdiction over it?

[Andyc545]

This would be a great location to experiment with ideas to "redevelop" an intimidating underpass. New lighting, artwork, maybe some kind of functional design... anything to make it more than just a noisy bridge. Since the underpass is right next to new residential development and is almost guaranteed to be a regular thoroughfare for joggers etc., it would be to the neighborhood's benefit to push to have it made a little more friendly.

If this were to happen, who would have jurisdiction over it?

That's a good point. With the different projects that are taking place on either side of this overpass, it really seems like a necessity for revamping that underpass to make it safe. I think they did a good job with the underpass near the Met, where they put some fences and lights up. What would be nice is some artwork under there, with lights shining on it and the sidewalk, however it will probally be a target for graffitti, and less worth the investment. Good to see this project is back on track.

[Raintree21]

All of the other overpasses/underpasses have fences up to the sidewalk w/ NCDOT- No Trespassing signs on them. If that answers your question on jurisdiction.

[Justadude]

^ I wonder if NCDOT would let a more local agency alter the appearance of the overpass? I suspect they wouldn't, since it would ultimately fall to NCDOT to maintain the bridge and any damage or wear related to alterations. Maybe they could at least be convinced to improve the lighting under it.

[prowl]

^ I wonder if NCDOT would let a more local agency alter the appearance of the overpass? I suspect they wouldn't, since it would ultimately fall to NCDOT to maintain the bridge and any damage or wear related to alterations. Maybe they could at least be convinced to improve the lighting under it.

You never know. In CenterCity Philly, local artists have painted murals on the sides of older buildings to improve the appearance. I do not know if those buildings are city owned/maintained though. At the end of the day, it is still an overpass.

[Spartan]

^ I wonder if NCDOT would let a more local agency alter the appearance of the overpass? I suspect they wouldn't, since it would ultimately fall to NCDOT to maintain the bridge and any damage or wear related to alterations. Maybe they could at least be convinced to improve the lighting under it.

No, its not in their 1950's overpass design manual, so its not allowed.

[The Fringe]

From a construction view point, does anyone know what the impacts of having the exposed rebar on the columns is? It does not look like they were protected in any way. How long could they stay like that without having an issue?