Kimpton Hotel in the West End

[apaladin]

1 hour ago, vicupstate said:

It's only November 4. Last I checked, November has 30 days. 

It did say by November,  not in November. 

[vicupstate]

9 hours ago, apaladin said:

It did say by November,  not in November. 

By November means by the end of November to me.

[gman430]

Killian is the general contractor for the project. Financing being provided by Sixty West Funds in conjunction with Hostmark Hospitality who is the developer. 

Edited November 4, 2022 by gman430

[gman430]

Welp…not this week it looks like. That’s one more week closer to them lying to us all again.

[gman430]

Well, it doesn’t look like November for construction starting. Anybody have any updates? 

Edited November 25, 2022 by gman430

[gman430]

Welp…so much for November. Another lie by another developer. Why does Charlotte not have this problem?  

Edited November 28, 2022 by gman430

[motonenterprises]

44 minutes ago, gman430 said:

Welp…so much for November. Another lie by another developer. Why does Charlotte not have this problem?  

Probably because it's larger.

[GvilleSC]

49 minutes ago, gman430 said:

Welp…so much for November. Another lie by another developer. Why does Charlotte not have this problem?  

I have no doubt that Charlotte has this problem, too. Permitting in Charlotte absolutely pushes schedules out for developers. You just don't see it and track it like you do for Greenville. 

[apaladin]

It dead. Throw it on the pile! 

[gman430]

Horses mouth (Collins & Fine) says this project has been delayed and won’t start construction until 2023. Delay after delay after delay. Maybe it will get built by 2030. The only good news is that it’s not dead…at least not yet. 

Edited December 5, 2022 by gman430

[gman430]

January and still nothing. It’s just sad. I expect the site to go up for sale soon.

Edited January 2, 2023 by gman430

[gman]

1 hour ago, gman430 said:

January and still nothing. It’s just sad. I expect the site to go up for sale soon.

I wish for you a resolution in 2023 to have a jar at least half full. It's a beautiful thing to be positive. 

[gman430]

Construction start date pushed back to Q2 (April-June) 2023. 

Edited January 16, 2023 by gman430

[gman]

I am afraid many projects will be canceled or delayed for the same reason. Who would want to build anything in this uncertain market?  “Boutique hotel poised for Greenville’s West End delayed, citing unstable building costs.” https://www.postandcourier.com/greenville/business/boutique-hotel-poised-for-greenvilles-west-end-delayed-citing-unstable-building-costs/article_7cbf5f88-976e-11ed-81ee-ff966fbb7629.html

[gman430]

Glad to see it’s still moving forward and construction costs are finally getting under control. 

And who you ask? The Beach Company apparently and everybody else that went to the DRB last month for project approval. 
 

 

Edited January 20, 2023 by gman430

[distortedlogic]

9 hours ago, gman said:

I am afraid many projects will be canceled or delayed for the same reason. Who would want to build anything in this uncertain market?  “Boutique hotel poised for Greenville’s West End delayed, citing unstable building costs.” https://www.postandcourier.com/greenville/business/boutique-hotel-poised-for-greenvilles-west-end-delayed-citing-unstable-building-costs/article_7cbf5f88-976e-11ed-81ee-ff966fbb7629.html

I hate to hear it but having some projects get delayed or even canceled is bound to happen.  

Given the crazy inflation over the past couple of years, the rising cost of borrowing money, possible recession looming,  and the sheer number of projects in DT, we could see more of this. 

 

[gman430]

I’m hearing this project is being delayed once again.  It was supposed to start construction this month or next. Don’t expect that to happen now. Hopefully my source is wrong but I doubt it is seeing how he’s directly involved with the project. 

Edited March 14, 2023 by gman430

[apaladin]

7 hours ago, gman430 said:

I’m hearing this project is being delayed once again.  It was supposed to start construction this month or next. Don’t expect that to happen now. Hopefully my source is wrong but I doubt it is seeing how he’s directly involved with the project. 

i am shocked!!! 

[gman430]

1 hour ago, apaladin said:

i am shocked!!! 

It’s like a Chess game among the downtown developers over who can have the most delays and see who can go the longest without actually starting construction. Apparently the Avant is up against the Kimpton and the Gateway site is up against the project next to Grace Church right now. The winners go to the finals. Check mate. 

Edited March 14, 2023 by gman430

[distortedlogic]

As someone else alluded to, I imagine we may see a lot of this with the current economic factors, banking issues, and interest rates. It almost feels like we're headed for another 2008 as fas as these downtown developments go; everything just stopped.

[apaladin]

1 hour ago, distortedlogic said:

As someone else alluded to, I imagine we may see a lot of this with the current economic factors, banking issues, and interest rates. It almost feels like we're headed for another 2008 as fas as these downtown developments go; everything just stopped.

Unfortunately the 2007-08 recession is about to hit us in the face.

[gman430]

6 hours ago, distortedlogic said:

As someone else alluded to, I imagine we may see a lot of this with the current economic factors, banking issues, and interest rates. It almost feels like we're headed for another 2008 as fas as these downtown developments go; everything just stopped.

The Kimpton was supposed to start construction three years ago and the Avant was supposed to start construction five years ago. And don’t even get me started on the Gateway site. These developers have had plenty of time through good times and bad to build their projects. If they haven’t started construction now after years of the sites sitting dormant they probably never will. I wish they would just put the sites up for sale so somebody with actual financing (Beach Company, Hughes, Windsor Aughtry, Auro) can build something nice. 

[vicupstate]

Delays aren't always a bad thing. The first project proposed for this site was much smaller and less attractive.  The original Kimpton proposal was a big improvement and their second proposal even better and denser.  If the economy was not in such a state of flux, they would probably already be building it. Many a company has out of business by getting too far over their skis. Merrill didn't start on their Greenville building until after the Columbia project was completed for instance. Obviously Kimpton thought Greenville was a good market for their product, and once things settle down, they will likely resume their plans. 

[gman430]

Yeah, you’re right. The one good thing is if the economy does go into a recession construction prices and inflation in general should drop which actually might help it get built. This hotel already has financing to get built so that isn’t an issue. 

Edited March 15, 2023 by gman430

[gman430]

Orange and white construction barriers are going up around the site. They’re just wearing an invisibility cloak.  

Edited April 1, 2023 by gman430