River Place Condominiums

[buckett5425]

At this point, ill be happy if preis builds anything at all, a 12 story tower is fine with me. JUST BUILD SOMETHING! Personally, I would rather have a shorter tower on the river front, and taller ones along 4th street to create the look of more denisty, and a layering effect.

[BRPJ]

I may sound pessimistic in my saying that i don't think this thing will get built. But deep inside, im am at least hopeful that it will!

[richyb83]

At this point, ill be happy if pries builds anything at all, a 12 story tower is fine with me. Personally, I would rather have a shorter tower on the river front, and taller ones along 4th street to create the look of more denisty, and a layering effect.

I like the idea of a "layering" effect with the taller buildings along the Fourth Street corridor too; but I figure make River Place the exception to the rule. We have enough 12 story buildings going up all ready. I am a big fan of density and think it's very important; but am also a fan of vertical towers; something 30-stories that's iconic and no less than 23 will only do. Waiting all this time for something 12-stories would be a big disapointment.

I may sound pessimistic in my saying that i don't think this thing will get built. But deep inside, im am at least hopeful that it will!

There's always hope At this point it's easy to be pessimistic with this project lagging in what seems like forever. When I walked by the RiverPlace Hospitality Center; I peeked thru the window and saw the new design(the same one posted) so that kept hope alive. Maybe this project could still become a condotel??

Not sure what to make of the news Drew

[cajun]

We should raise property taxes downtown and force these people sitting on empty land to do something productive with it or sell it to someone who will.

It works well for Houston.

[twstdndmntd]

I've come to a conclusion... "Stick a fork in this project, it's done."

[drew6974]

OK, here's the latest chapter in this saga.

Richard Preis was interviewed on Channel 9. He says that an announcement will be made within the next 90 days on Riverplace. A 300 room hotel will be the major portion of the project now. It will occupy the lower floors and condos will be on top. The total project will now be between 26-30 stories.

Also, he is working on another unspecified project close to the state capitol.

[BRPJ]

OK, here's the latest chapter in this saga.

Richard Preis was interviewed on Channel 9. He says that an announcement will be made within the next 90 days on Riverplace. A 300 room hotel will be the major portion of the project now. It will occupy the lower floors and condos will be on top. The total project will now be between 26-30 stories.

Also, he is working on another unspecified project close to the state capitol.

anotha 90 days

[richyb83]

I saw that too. Yeah...another 90 days huh???

I'm stoked; people told me they had a bad feeling(that it had been canceled) about this when WAFB said they would announce something on the 10:00 news. This is going to happen; this will be "world-class". They showed the new rendering that's been posted here on UP. Looks like 26-stories of residential on top of 4-stories of parking. Wonder if this could be what Kip Holden is talking about on the news story before it?? Is Baton Rouge ready to enter a new era???

His other project is Capitol Place; I'm guessing that could be a 4 or 5 story residential loft on the edge of Spanish Town.

[byrde]

I saw that too. Yeah...another 90 days huh???

I'm stoked; people told me they had a bad feeling(that it had been canceled) about this when WAFB said they would announce something on the 10:00 news. This is going to happen; this will be "world-class". They showed the new rendering that's been posted here on UP. Looks like 26-stories of residential on top of 4-stories of parking. Wonder if this could be what Kip Holden is talking about on the news story before it?? Is Baton Rouge ready to enter a new era???

His other project is Capitol Place; I'm guessing that could be a 4 or 5 story residential loft on the edge of Spanish Town.

I saw the story on Channel 9 as well. I like the rendering, but I'll believe it when I see construction equipment working at the site.

[twstdndmntd]

Until I see cranes on the property, I say its done.....

[BRPJ]

I saw the story on Channel 9 as well. I like the rendering, but I'll believe it when I see construction equipment working at the site.

So there's another new rendering? Well, I'd be lying if I didn't say i wanted to see it.

[richyb83]

Can you say $ticker $hock??? People need to remember this project started around $50 million; then 70, now $135 million

What Downtown BR needs most is the residential componet; with this being more "hotel" than condo's that my only problem. This is what will bring grocery/pharmacy/retail, etc....I wonder how many condo units will still be made available on the upper-floors??? That land wasn't cheap; so the condo's won't be either; it will be out of most price range for sure.

I find it amazing that 75% of the original potential tenants still are interested after such a long wait!

Preis: Plans revamped;$135 million, 300-room hotel planned

Preis said that of the 189 potential tenants who submitted deposits for earlier version of the project, about 75 percent, or about 140, have expressed interest in remaining.

Progress has been delayed numerous times, however, with Preis blaming high materials costs in the post-Katrina period and, more recently, roiling credit markets.

[byrde]

The video from WAFB can be found here.

http://www.wafb.com/global/story.asp?s=8655328

[BRPJ]

t4p

After meeting with lenders this week, Preis said work should begin no later than January.

“They want test pilings to begin between now and the Labor Day period,” he said.

[BRPJ]

I wonder who the hotel chains are? I think The W would be great, or are we still too country for one of those?

The design looks like it would be a W.... who don't we have downtown?

[byrde]

I wonder who the hotel chains are? I think The W would be great, or are we still too country for one of those?

The design looks like it would be a W.... who don't we have downtown?

Right now we only have The Hilton and the Sheraton. The Hotel King will start work soon. They will have a national chain affiliation, but no word on who.

[dan326]

Another 90 days??? At least it will have a 300 room hotel.

[richyb83]

Just out of curiousity COMPARING the last two renderings; they are both basically the same.....

the one Dan posted above

Here the latest...just a "greener" version huh??

[dan326]

It probably won't make a difference, but the 90 days is almost up. It'll be interesting to see how this plays out with the current credit crisis.

OK, here's the latest chapter in this saga.

Richard Preis was interviewed on Channel 9. He says that an announcement will be made within the next 90 days on Riverplace. A 300 room hotel will be the major portion of the project now. It will occupy the lower floors and condos will be on top. The total project will now be between 26-30 stories.

Also, he is working on another unspecified project close to the state capitol.

[BRPJ]

I smelled this crisis coming months ago. I fear that most of the private projects for downtown won't happen. This will be first to get the Axe

[drew6974]

Not to beat this dead horse to death, but do I remember correctly that January 2009 is the latest deadline on this project?

Does Preis come out again and say they will definetly break ground by the summer of 09 or does he officially declare it dead?

I can't understand why he keeps an office on Third Street open and keeps putting it off time after time. It doesn't make sense to me to keep that property vacant and to keep an office open if the project is never going to happen.

[richyb83]

No problem Drew, glad you brought it up

Have not heard anything new. But the 2nd Phase of Plan BR seems to still consider the RiverPlace tower a possibility; with pedestrain sky-ways over River Road to the promenade. You are right, why would the Hospitality Center on Third Street remain open?? The latest renderings are inside! I think Preis is bull-headed; despite the obstacles, he's not giving up. Seeing his Howell Place development really take off only adds fuel to the fire. He absolutely loves it when somebody tells him "he can't do it" like they did with HP and now RiverPlace. He has a "me" against the world mentality. Despite all the obstacles he's not giving up w/o a fight!

It's mind-numbing just how many moving parts are involved in this large-scale project. People can dog him and scoff all they want; if this project is/was so easy to pull off...WHY aren't other developers making this proposal?? Where are they?? I like Preis BOLD vision and won't give up til he does!!! If people are tired of waiting? then they can quit waiting. I did not quit; just kind of put RiverPlace on the back-burner until it happens.

While plenty of 3-5 story lofts are hip; and on the way to downtown's future; and possibly a few 12 to 16 stories(RiverPark?); the CBD needs a "vertical" neighborhood that adds some more residential density to the urban core and CBD. A condo/hotel (condotel) may be the best option??

Preis is supposed also develop a much smaller project bordering Capitol Park & Spanish Town; not sure when?? Jarreau is another developer is expected to do a smaller project called Spanish Town II.

[dan326]

I wouldn't straight up say that I've given up on this project, but I would say that I've definetly stopped thinking about it.

I don't want to say too much, considering that I've never developed property, but I will say that he does seem to be taking a long time with this. I'm starting to wondering if the reason he isn't moving forward is the lack of demand. Also, I don't think any off the other big projects took this long. Like Mike Wampold, he's done several challenging projects in the time we've been hearing about RiverPlace.

Howell's Park is an accomplishment for North Baton Rouge, but like someone said, I think it was Cajun, all he had to do was build a road and the divide that parcels of land, not exactly the most challenging work.

[cajun]

I think Baton Rouge needs to start with more townhome or brownstones type of development before they go vertical like that...but not on that block.

That particular parcel that Pries is sitting on is worth more than what selling 100 condos will return, which is what the market could probably support at those particular prices. They need to consider more than one building on it, especially if the Hotel market is doing well or if office space is in need (or will be in 2 years).

Its generating exactly $0 right now since it's not even being used as surface parking. Something will happen to it.

[richyb83]

Also, I don't think any off the other big projects took this long. Like Mike Wampold, he's done several challenging projects in the time we've been hearing about RiverPlace.

Actually II City Plaza had been on the drawing boards longer; since the late 90's; taking about 10 years before it ever got off the ground. Had it not been for the new GOZone Bonds post-Katrina; Wampold mave have not even pulled this project off. Even with the GOZone bonds he termed "sticker shock" the reason for the shorter 12-story office tower.

Wampold's has a few projects; 8-story tower on Essen near Shaw; and north Chase Tower expansion; that look like the plans have been "dropped". They have been talked about nearly as long as RiverPlace.