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55 West Delayed

depechecureguyorl

By depechecureguyorl
in Orlando

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corpkid Whistle-Stop

corpkid

Posted
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I'm glad I didn't buy one of these as I had originally planned to. I bought in Eola South to get me downtown and hold me over until 55 west was finished, but then they jacked the price up so damn high between reservation and contract I pulled out.

I heard they lost a LOT of reservations when they did that... Something just strikes me as "not right" with this project, and this delay furthers that thought.

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orlfun Unincorporated Area

orlfun

Posted
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Is 55W the only project using steel construction?  That seems like a lame excuse to delay for 5 months, especially considering all these other projects continue to move forward, not only in Orlando, but all over Florida.

<{POST_SNAPBACK}>

The 55 West philisophy is to milk a project for all it's worth. Their condo prices increased a lot more than the material costs. This is not a developer to do business with.

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Hisma Whistle-Stop

Hisma

Posted
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whats worse is that the city of orlando is bending over backwards for these guys, while legitimate projects that moved along as scheduled (or ahead of schedule) have already broken ground without the use of incentives. This, along with giving incentives to Lou Pearlman and handing Paris Hilton the key to the city, is another bad business move by the city. Just IMHO of course.

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depechecureguyorl Whistle-Stop

depechecureguyorl

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How do you get that from this article ?

<{POST_SNAPBACK}>

The best of my knowledge, I know of no other 400'+ project scheduled to break ground (or already broken ground) than the Vue. The other projects are less than 400'. I admit, I may have overexagerated by using the phrase "...for a long while".

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Dale City

Dale

Posted
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The best of my knowledge, I know of no other 400'+ project scheduled to break ground (or already broken ground) than the Vue. The other projects are less than 400'. I admit, I may have overexagerated by using the phrase "...for a long while".

<{POST_SNAPBACK}>

I understand. I suppose I was thinking of Tradition Towers (2X415ft) and Ivanhoe (2X420ft). And of course, Ridgley at 440ft. (if reports are true).

In any case, if the above towers break ground when projected, that' another five towers over 400 ft. in the same timeframe with 55W. :)

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bluewingzz Unincorporated Area

bluewingzz

Posted
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I'm glad I didn't buy one of these as I had originally planned to.  I bought in Eola South to get me downtown and hold me over until 55 west was finished, but then they jacked the price up so damn high between reservation and contract I pulled out.

I heard they lost a LOT of reservations when they did that...  Something just strikes me as "not right" with this project, and this delay furthers that thought.

<{POST_SNAPBACK}>

how much did they jack the price up between reservation and contract on 55west ? I'm sceptical about ridgely manor current price also.

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wally2169 Whistle-Stop

wally2169

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:angry: I swear I have had it

This project which would clearly give a re-birth to Church Street Station is becoming the "Big Dig" of the Southeast.

If the Vue can go up within reasonable schedule and without the harsh trauma of rising stell and construction costs, why in the hell can't this project also?

It boggles the mind in ways I cannot comprehend.

As many have posted on this subject in the past forwarning of dire premonitions about a soon to be catastrophic failure of this building being completed, I am sad to say I have now joined those once proud souls who have seen this project rise from the ashes of a ghost town to begin a downward spiral that may ultimately lead to ghetto status of a prime area in downtown.

I'm apologize for the doom and gloom, every person has their limits......

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Dale City

Dale

Posted
Posted

:angry: I swear I have had it

This project which would clearly give a re-birth to Church Street Station is becoming the "Big Dig" of the Southeast.

If the Vue can go up within reasonable schedule and without the harsh trauma of rising stell and construction costs, why in the hell can't this project also?

It boggles the mind in ways I cannot comprehend.

As many have posted on this subject in the past forwarning of dire premonitions about a soon to be catastrophic failure of this building being completed, I am sad to say I have now joined those once proud souls who have seen this project rise from the ashes of a ghost town to begin a downward spiral that may ultimately lead to ghetto status of a prime area in downtown.

I'm apologize for the doom and gloom, every person has their limits......

<{POST_SNAPBACK}>

Well, I share in your frustration. But if Lou Pearlman can get his project up and running (or some semblance thereof), then I suppose 55W will materialize in due time.

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corpkid Whistle-Stop

corpkid

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how much did they jack the price up between reservation and contract on 55west ? I'm sceptical about ridgely manor current price also.

<{POST_SNAPBACK}>

My 1200 sq. ft. 2/2 unit was originally priced at $380k for 19th floor. Each floor was an add'l $5k.

Three weeks after putting down my $1000 reservation fee, the contract came and my unit had shot up to $440k and I was moved down to the 17th floor. Also, the extra parking space I wanted to buy (only came with one) had gone from $18k to $31k.

They were almost completely reserved when I reserved, but they lost SO many reservations when they pulled this stunt... Stupid (greedy) developers, IMHO.

When I went to cancel my contract & get my $1000 bucks back (you had to go in person) there were four other people at the sales center doing the same thing!

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GRS328 Whistle-Stop

GRS328

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I hate to say, but I think I too have "switched teams" on this one. I was so excited about the effect the Esplanade portion of the project would have had on downtown, and now it just seems like it's never going to happen. $31k for a parking space..... :sick:

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corpkid Whistle-Stop

corpkid

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I hate to say, but I think I too have "switched teams" on this one.  I was so excited about the effect the Esplanade portion of the project would have had on downtown, and now it just seems like it's never going to happen.  $31k for a parking space.....  :sick:

<{POST_SNAPBACK}>

Me thinks that The Sanctuary is charging something like $28k for theirs...

Gosh - I feel luck to have gotten mine @ Eola South for a mere $12k! :rofl:

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real2b Crossroads

real2b

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My 1200 sq. ft. 2/2 unit was originally priced at $380k for 19th floor. Each floor was an add'l $5k.

Three weeks after putting down my $1000 reservation fee, the contract came and my unit had shot up to $440k and I was moved down to the 17th floor.  Also, the extra parking space I wanted to buy (only came with one) had gone from $18k to $31k.

They were almost completely reserved when I reserved, but they lost SO many reservations when they pulled this stunt...  Stupid (greedy) developers, IMHO.

When I went to cancel my contract & get my $1000 bucks back (you had to go in person) there were four other people at the sales center doing the same thing!

<{POST_SNAPBACK}>

Just to get a better prospective on these prices; my friends bought on the 19th floor, 1200 sq. ft. in Nov., 2004 for approx. $345k; after the price increase that past summer. The extra parking spaces are $25k. Since then , they say they are at 80% in contracts. Since Feb. they have had price increases on thier remaining inventory. These are accurate and factual. Call their office. They'll gladly give you the facts; not exagerated"

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corpkid Whistle-Stop

corpkid

Posted
Posted

Just to get a better prospective on these prices; my friends bought on the 19th floor, 1200 sq. ft. in Nov., 2004 for approx. $345k; after the price increase that past summer. The extra parking spaces are $25k. Since then , they say they are at 80% in contracts. Since Feb. they have had price increases on thier remaining inventory. These are accurate and factual. Call their office. They'll gladly give you the facts; not exagerated"

<{POST_SNAPBACK}>

They have been in 80% contracts since I first talked to them. My real estate agent (who has since quit the project and is also a good friend) says that this project is all "back room" deals and warned another major price increase would be just down the road (and lo and behold, here it is)...

I kid you not that my contract increased by that much and I was dropped several floors. I think what has happened is they adjusted based on the number of pullouts and you friends may have benefited. After I pulled out I was contacted several times by 55w sales reps to discuss "incentives" and "discounts" that they were "now able" to employ. By that point I was already knee deep in Eola South and liked that location better, plus had a real sour taste in my mouth from that stupid price hike.

Also, plenty of amenities that were going to be included are now option packages and that bumped my price up quite a bit. Also, I know I could have switched to the other side of the building and saved about $15k for the less-optimal "view"... Add it up... :rolleyes:

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condo21 Unincorporated Area

condo21

Posted
Posted

I have not heard that they are raising the prices to those that already have contracts. I suspect the reason they are adding more units to this project is to avoid this. Considering the higher construction costs that they talk about. There is a project in Las Vegas (Vegas Grand) that actually did this, they raised the prices after people had contracts.

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corpkid Whistle-Stop

corpkid

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I have not heard that they are raising the prices to those that already have contracts.  I suspect the reason they are adding more units to this project is to avoid this. Considering the higher construction costs that they talk about. There is a project in Las Vegas (Vegas Grand) that actually did this, they raised the prices after people had contracts.

<{POST_SNAPBACK}>

Wouldn't it be illegal to raise prices on already signed off contracts? I mean, a contract is a contract... Otherwise I wouldn't be suprised if they did raise existing contracts.

One thing that has me confused is if they are adding more units, but can't build much higher... where is the extra space coming from? Are they going to shrink some of the smaller units (some are pretty big)???

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Dale City

Dale

Posted
Posted

Can't say for sure.  At the groundbreaking ceremony (haha) an Engineer had said they were redesigin to add 5 floors.  This has not showed up in print.  But, the new plan to add 40 lofts does seem to dovetail with the height increase.

<{POST_SNAPBACK}>

After all the hell they've put us skyline-watchers through it's the least they could do, to raise the height.

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