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55 West Delayed


depechecureguyorl

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We should help 55West think of ways to make money. Any ideas? I might have some!

-They should charge for parking after you buy a space for $30+.

-Make all condos lofts

-Do carpet and not wood floors

-Also, who needs the marble counters when your spending top dollar

-Make the condo fees about .50 cents sq ft

-Who needs a door man anyway?

-Get rid of the pool to make room for parking spaces

-Help the developers get more city incentives

-Charge more for i-4 views

Please help 55West!! :rofl:

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We should help 55West think of ways to make money.  Any ideas? I might have some!

-They should charge for parking after you buy a space for $30+.

-Make all condos lofts

-Do carpet and not wood floors

-Also, who needs the marble counters when your spending top dollar

-Make the condo fees about .50 cents sq ft

-Who needs a door man anyway?

-Get rid of the pool to make room for parking spaces

-Help the developers get more city incentives

-Charge more for i-4 views

Please help 55West!!  :rofl:

<{POST_SNAPBACK}>

I'll add:

- Lose the Elevators AND the fitness center - I mean who needs a fitness center if you have to trudge up 25 flights of stairs everyday...

- Each floor will share community lavatory and bathing facilites.

- No central A/C - aftermarket window units ONLY.

- The lobby will actually be subdivided up into more ground floor units, of course which are a premium price due to the lack of elevators

Oh, I could go on and on but this is silly... :blush:

Thank goodness there are other nice projects going up left and right!

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I remember one Sunday when my wife and I went to the Loft Affair at 55 West and came within 5 minutes of buying one of these. I am very thankful we went on a walk around Lake Eola to think about it and ended up at the Vue sales office. I only can wish that the Vue development team starts more projects in Orlando. They were extremely professional and also raised $1 million dollars for local charities without any city incentives. I think this project so far has set the standard......So far the only good thing I can say about 55 West was the 2 free Martini glasses I got at the Loft Affair......

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I remember one Sunday when my wife and I went to the Loft Affair at 55 West and came within 5 minutes of buying one of these. I am very thankful we went on a walk around Lake Eola to think about it and ended up at the Vue sales office. I only can wish that the Vue development team starts more projects in Orlando. They were extremely professional and also raised $1 million dollars for local charities without any city incentives. I think this project so far has set the standard......So far the only good thing I can say about 55 West was the 2 free Martini glasses I got at the Loft Affair......

<{POST_SNAPBACK}>

You have an excellent web site!

Also, I find it hard to believe you got 2 martini glasses without signing a contract....they were probably bought with the City of Orlando incentive money!

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People keep talking about incentive money like it's real money. Must have been listening to Doug "Ax the Tax" Guetzloe I guess.

This package is basically costing Orlando squat.

Of the 12.5 million, 9 million is in loans. The other 3.5 million is in tax rebates, on taxes that wouldn't have been collected anyway if 55W doesn't get built. For that the city revitalization which brings in other businesses that will be paying taxes. A few years down the road, 55W taxes kick in. If the project doesn't start, the city is out nothing. The city can't lose and the tax payers can't lose. It's a no brainer.

According to OBJ

"To encourage more development -- especially residential -- in the downtown core, the City Council approved an incentive package for the condo tower back in 2004. The deal included a $3.5 million tax rebate, a $7 million loan for a new parking garage, and a $2 million loan to help build a plaza."

When my bank loans me money for a car or my house, no body calls it incentive money.

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^ and the 3.5 rebates is no different than Rooms To Go saying no interest until 2007.  It's been a good business deal for them ... they are one of the fastest growing furnature store ever.

<{POST_SNAPBACK}>

It's great how the 3.5 million tax rebate and 7 million loan can help with these high construction costs.

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The two are not connected.

<{POST_SNAPBACK}>

It's saves the developer money, which can then help with these high construction costs. Call it whatever you want, but it's money they would have spent anyway without the incentives. A commitment from the city is cash in the bank.

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People keep talking about incentive money like it's real money.  Must have been listening to Doug "Ax the Tax" Guetzloe I guess.

This package is basically costing Orlando squat......

....Of the 12.5 million, 9 million is in loans. The other 3.5 million is in tax rebates, on taxes that wouldn't have been collected anyway if 55W doesn't get built.  For that the city revitalization which brings in other businesses that will be paying taxes.  A few years down the road, 55W taxes kick in.  If the project doesn't start, the city is out nothing.  The city can't lose and the tax payers can't lose.  It's a no brainer.

When my bank loans me money for a car or my house, no body calls it incentive money.

<{POST_SNAPBACK}>

Well said, Cwetteland.

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  • 2 weeks later...

Got a letter from 55 West yesterday saying how lucky I am for buying there and that my unit went up 25% since I bought it. It also said they are on schedule for starting construction in June. Should be finished sometime 2075, or around there. Hope they get done before warp drive is invented :rofl:

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Got a letter from 55 West yesterday saying how lucky I am for buying there and that my unit went up 25% since I bought it. It also said they are on schedule for starting construction in June. Should be finished sometime 2075, or around there. Hope they get done before warp drive is invented  :rofl:

<{POST_SNAPBACK}>

I don't think you got the point. They said in the letter that every time they sell the same unit over and over again, the price will increase 25% each time. They will break ground after they sell each unit 5 or 6 times.

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I also doubt that the city would have entered into the agreement concerning the antenna if the project were very much in doubt.

<{POST_SNAPBACK}>

The city will probably pay 55West rent for having the antenna up there. This will help 55West with the high constructions costs.

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Ok, I just got off the phone with Pearlman. He said he is also concerned about these numerous delays. Because of this, he said he has been forced to take things into his own hands. To speed up this process, he said he went to buy the ground breaking shovel himself because he doesn't own one.

He went to the Home Depot Expo to put in a special order for a solid gold shovel. He said, I quote, "I can't believe these high construction costs. The city hasn't given me any real money to pay for this." To his surprise, the shovel will come in around Xmas to go under his tree. After it is unwrapped, it is ground breaking time.

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I drove by the 55 West site today and saw, believe it or not, actual work being done. There is an fence around both sides with a sign that read demolition area. There was also heavy machinery. I was told by someone there that they were just testing the ground and that demolition will start by Aug. 1st. :)

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I drove by the 55 West site today and saw, believe it or not, actual work being done.  There is an fence around both sides with a sign that read demolition area.  There was also heavy machinery.  I was told by someone there that they were just testing the ground and that demolition will start by Aug. 1st.  :)

<{POST_SNAPBACK}>

You must have been seeing things. B)

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