Plasticman

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About Plasticman

  • Rank
    Hamlet
  • Birthday 05/23/64

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  • Location
    Atlanta area
  • Interests
    Church, gardening, fishing, drawing
  1. Music City Center, 1.2 million sq. ft., $623 million

    I noticed the mention of $300,000,000 for the hotel portion. While it is only a mention I would think that would be QUITE a hotel considering it costs as much as Signature Tower. My bet is if built that portion would have to be at least 50 stories and probably 500-600+ feet tall. (a legitimate 600 feet unlike the two spikes on the Batman Building).
  2. Signature Tower

    I'm sorry the tower won't be quite as tall. I believe it will still have a 2010 groundbreaking and it will be like this... 20 floors hotel 20 floors office 20 floor condos (five per floor) for a 60 story tower measuring about 850' as the second design suggested. Still startlingly tall for Nashville and a bold iconic tower for the city.
  3. Signature Tower

    I actually posted this earlier with the wrong link. It doesn't look good for Signature Tower. From this article TG seems to be grasping a bit. I hope I'm wrong. http://www.tennessean.com/apps/pbcs.dll/ar...D=2008809150330
  4. Music City Center, 1.2 million sq. ft., $623 million

    Let's hope this isn't another 300-400 foot flatliner to add to the pile. If so I am sure there will be a collective yawwwwwnnnnn on here with the biggest being from me. If two towers are being proposed then there is little reason not to go with one 600+ footer instead of two 300 footers. I get the feeling that unless TG is involved it will be another gutless project much like Pinnacle (a nice building but it didn't break any new barriers).
  5. Signature Tower

    I find his latest proposal as an acknowledgement that he waited too long to tap the market and that something had to change. Plus I've stated several times that the project is too upscale to waste such low-brow marketing like balloon rides and free cars on. The only thing missing was dancing clowns, pony rides, and face painting. Had he proposed this five years ago, it would be different. With correctly aimed marketing toward upscale clients, he would have sold out and be complete by now. I wonder what marketing he did with Veridian that caused it to sell out well before being complete? On the positive side, I believe his acknowledgment, though late in coming, will help get this thing out of the ground. Yes it is delayed but by starting over while still maintaining many of the contracts my optimism is again trending upward. While he has stumbled, he certainly hasn't fumbled and he does have a level of determination that may just turn into success.
  6. Signature Tower

    The number of floors of this building isn't what is holding it up. It is the economy. If this project had been approved back in 2004 or 2005 it would be standing tall today. Going higher is expensive but I cringe when I hear someone mistakenly say things like "Such and such city isn't ready for a building this tall". There is no "ready" to it. That premise just doesn't make sense to me. The only thing that matters are the local height restrictions, the infrastructure of the area like water, sewer, etc., and the demand. If all are in line, you could build a 2,000 foot tower in a Nebraska cornfield. Does anyone know how his April marketing push is going? I have the feeling if it were good news it would be all over the media.
  7. Signature Tower

    Here's an updated story. Signature is far from dead but it is certainly delayed. http://www.wztv.com/newsroom/top_stories/vid_1572.shtml
  8. Signature Tower

    I agree but I do believe the 103 are actual contracts and not reservations. But regardless he is still well short and that number shows absolutely no progress in over a year. The marketing push should have happened from the get go. I just cannot understand a groundbreaking, world class project and then to have a used car type marketing effort (my opinion) is so stunning. It's like opening a Rolls Royce Dealership in a Kmart....the wrong crowd.
  9. Signature Tower

    Unless the economy booms in the next couple of months my understanding is he will lose the 103 sales he has. From other people on here he has to break ground by June or lose the contracts. I'm still stunned by the fact he hasn't sold a single unit in a year and in fact seems to have lost some. The only bright spot could be if the units he sold are the million plus dollar ones. THis will allow him to sell fewer units and still meet the 50% dollar requirement. If we haven't heard any good news (including no news) by June look for a dissapointing announcement.
  10. Signature Tower

    The fact that he has made absolutely zero progress on sales in months and months is anything but good news. I've heard 105-120 sales now for a year. This so-called marketing push should have happened two years ago. This reminds me of a school kid who waited until the night before his book report was due to begin reading the book.
  11. Signature Tower

    Not even remotely silly and you missed my point. I was really speaking of Atlanta regarding a 1,200 footer, not Nashville. Monsoon asked where they were and my response was that there may not have ever been a proposal for such a structure down here (I don't know). But if there were a proposal during the height of the real estate boom I would bet 70/30 that it would have been standing tall today. I believe most of you are leaving out one part of my assertion...demand. You have to have a visionary, you have to have approvals to build, and you must have "demand". Those three things alone justify building whatever height you want to. LC and Monsoon both assert that people don't want to live that high. Fair enough. That is where the "demand" comes in. Is it there or not? Signature's problems may be that the 110 or whatever number he has sold is about it for that type of condo up there. I don't know. But I do believe strongly that the marketing has been less than adequate for a high end project. You combine gimicky marketing which cheapens the project with the lending crunch and you have a recipe for trouble.
  12. Signature Tower

    I imagine no developer ever seriously proposed one down here. Do you really believe that ten years ago if a developer proposed a 1,200 foot mixed use tower down here and got city approval to build it that it wouldn't have been built because of lack of demand? Hardly. I venture that once the mortgage crunch is gone that some gutsy developer will make such a proposal and make it happen. I still stand by my premise that demand, city approval, and a visionary developer is all that is necessary.
  13. Signature Tower

    I disagree. Atlanta could easily have accomodated a building like Signature Tower, especially before the mortgage crunch. The idea that somehow only 1 or 2 places in North America could justify a 70 story residential building doesn't work for me. You are somehow trying to mis-equate the size of the city with the justification of height. In the end it is all about demand. 400 condos, even million dollar ones, isn't even close to being too much for a city over 5 million people. Given that most of the units are 400,000-750,000 makes it even more reasonable. And even Nashville at 1.5+ million could do it if demand is there. Obviously 100+ people have thought it okay or they wouldn't have signed on the dotted line. To take your assertion farther, being 800+ feet in the air in Nashville is no different than being 800+ feet in the air in NYC. (except you get a much more unobstructed view of rolling hills and scenary). So while you statement that most people don't want to live in a tall condo tower may have some truth to it, it has nothing to do with where that tower is. The justification is soley based on the developer's willingness to propose it, the ability to sell the units, and the city's willingness to allow it. Those are the only real factors to consider when one speaks of justification. If this building had been proposed ten years ago even in Nashville, I have no doubt it would be standing tall today and likely with a couple other complimentary towers in the works.
  14. Signature Tower

    Bring it on!! If it were here I have little doubt it would already be under construction and maybe even taller. It wouldn't shock me if they put a supertall in Buckhead.
  15. Signature Tower

    I don't know what else can be said. On the surface this project seems to be at a dead stop. Every news report is negative toward any immediate progress. I hope behind the scenes Mr Giarratana is making headway on sales. He doesn't owe us any news but it sure would nice to know how many units are actually sold. If he still is stuck in the low 100s then I believe he either has to pony up some other way to fund it or offer a serious new marketing strategy. Since I believe we agree that it is the 50% dollar amount that matters, if he could sell the significantly more expensive upper floors he could potentially sell only 140 or so and still make the 50% dollar value.