navigator319

Ascent Uptown - 33 stories (3rd and Poplar)

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Ascent Uptown (aka 3rd and Poplar Apts)
RTAP with Planning for the Ascent Uptown, formally named 3rd and Poplar. The changes include site data updates on sheets C0.00 and C2.00 in coordination with architectural updates. These updates and this RTAP review has been coordinated with Bridget Dixon.

 

 

Mods: Can we change the name of this thread to Ascent Uptown?

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Three person crew onsite this morning working on taking down the Preferred Parking sign.  Closing off this parking lot and real construction has got to be imminent. 

 

New spray markings were also put down this week in bright pink along the exterior of the property on the sidewalks.  A couple of the marking along Poplar read 22'6 drive lane and another reads main gate.  Those markings look to match up nicely to the opening in the plans we have see to the entrance of the buildings parking garage.

 

There are still the crews that began work a couple weeks ago working on what looks to be underground piping/drainage from the street through an ever growing fenced off section in the lot into Packard Place.

Edited by navigator319
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They've coned off all the entrances to the Ascent lot and taken down the old parking fencing. Looks like ground breaking is imminent.

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They've coned off all the entrances to the Ascent lot and taken down the old parking fencing. Looks like ground breaking is imminent.

hopefully they will have a official ground breaking with Media and full color renderings. 

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They've coned off all the entrances to the Ascent lot and taken down the old parking fencing. Looks like ground breaking is imminent.

 

Its not coned off.  Parking lot is fully open with two folding signs for the $10 price and the other with an arrow pointing to they pay machine.  The cones are placed on the edge of the lot where there is about a 1 foot drop to the sidewalk.

 

As I mentioned this weekend though as they were taking down the sign and fence this thing has got to be close.  I thought maybe when they got done on Saturday they were going to close up the lot, but unfortunately they did not. 

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Question; are these being built 'condo-ready' in the sense that if, right before they begin construction they go, okay apartment market is going to be over saturated by the time this is done but there are no condos to buy, could they flip? Or is that WAY over simplifying the situation?

 

Side note: are any of the large scale apartment projects (mint museum tower, tryon place, whole foods complex) being done this way?

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Its not coned off.  Parking lot is fully open with two folding signs for the $10 price and the other with an arrow pointing to they pay machine.  The cones are placed on the edge of the lot where there is about a 1 foot drop to the sidewalk.

 

As I mentioned this weekend though as they were taking down the sign and fence this thing has got to be close.  I thought maybe when they got done on Saturday they were going to close up the lot, but unfortunately they did not. 

 

 

Really??  I was beside the thing last night at about 7pm and there were cones at every entrance.  Maybe it was to prevent people from parking during the basketball games?  Weird.

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Question; are these being built 'condo-ready' in the sense that if, right before they begin construction they go, okay apartment market is going to be over saturated by the time this is done but there are no condos to buy, could they flip? Or is that WAY over simplifying the situation?

 

Side note: are any of the large scare apartment projects (mint museum tower, tryon place, whole foods complex) being done this way?

 

I mean, from an actual construction point of view, there would be minimal need to change much.  The property would need to be legally subdivided, and there might need to be some easement issues to resolves in permitting and legally, but I wouldn't think anything that couldn't be resolved even mid construction.

 

The biggest obstacle would be the lender.  If they expect to be lending for apartments, that's very different in their mind from lending for condos.  Without getting too deep into the details, before construction starts, the developer would need to start the whole lending process over, and likely bring MUCH MUCH more equity.  After the property is built, it MIGHT be possible to switch uses to condos before leasing begins, but again, probably the need to bring more equity and likely paying substantial penalties to the construction lender.

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I mean, from an actual construction point of view, there would be minimal need to change much.  The property would need to be legally subdivided, and there might need to be some easement issues to resolves in permitting and legally, but I wouldn't think anything that couldn't be resolved even mid construction.

 

The biggest obstacle would be the lender.  If they expect to be lending for apartments, that's very different in their mind from lending for condos.  Without getting too deep into the details, before construction starts, the developer would need to start the whole lending process over, and likely bring MUCH MUCH more equity.  After the property is built, it MIGHT be possible to switch uses to condos before leasing begins, but again, probably the need to bring more equity and likely paying substantial penalties to the construction lender.

Fair enough, thanks for the info!!! Regardless, I am very excited about this project. And I really can't wait to see the race to the top between this skyhouse II and the mint museum tower! :)

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Skyhouse will clearly be the winner.  Their construction crews are already experienced in building one.  :)


Fair enough, thanks for the info!!! Regardless, I am very excited about this project. And I really can't wait to see the race to the top between this skyhouse II and the mint museum tower! :)

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Really??  I was beside the thing last night at about 7pm and there were cones at every entrance.  Maybe it was to prevent people from parking during the basketball games?  Weird.

 

They have cones about, but I think they've only been doing soil cores or something. It was being used for parking today.

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Wow amazing find. And that looks absolutely incredible!!!

Also yes. By far the best first post ever.

Edited by Jayvee

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Wow, what a unique and stunning addition to our skyline this will be! The website says construction will start in "late winter of 2015". This beauty will break ground sooner than that, right?

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All the green is just fantastic!!! What an absolute win for the skyline. We already have a world class skyline but in 3 years....just wow.. It's crazy to me that this has been out there since October and none of our sleuths found it. Haha

Edited by Jayvee

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