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CONSTRUCTION THREAD: Pinnacle on Main


RestedTraveler

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What is going on over there? They need to get busy with this thing and stop letting those cars park there.

They must be waiting until 2006 to start this thing. Would it not be cheaper to start now rather than to wait until a new year when most prices will go up? My personal feelings on this project is that something is wrong, its taking way to long. I also dont buy the excuse of hurricane Katrina. Charlotte and Atlanta are building skyscrapers everyday and its not slowing them down at all.

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I know that is what the site says, and that it has said that for a while, BUT recently I was at a meeting, and the Towers agents from NAI Earle Furman said they only had 2 of 6 required offices sales. I wondered about the discrempency with the site myself.

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.......Build the tower and the people will come.

While I do believe that it would be much easier to fill out and sell a building once they are built most developers do not use their own money to finance these projects. They are using lenders and it's all about presales. It's usually minimum 50%

They usually need to have enough in pre-sales to cover the construction loan.

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  • 3 weeks later...

The Greenville MLS (realtor.com) has 3 listings for the Pinnacle building. They are 3Br 2.5 Ba and listed for 1,375,000.

Definitely at the tip top of the market. However these prices are comparable to the project at 18 S. Main.

Well now that its 2006, maybe this project will start construction. Im sorry, I must have been daydreaming again, Ill be lucky to see this project completed in my lifetime. (ha ha ). I really would like for this project to get cranked up so that North Main area could grow some more.

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I think we'd all agree that much has been spoken about this and other major projects, but little or nothing has been done to get them out of the ground. I'm beginning to lose the passion I felt during the news haydays of 2005. This is largely due to the many construction dates being pushed back time after time. I'm ready to see new large developments like RiverPlace in the CBD. :)

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RT, you're the eternal optimist who keeps the fire burning. Thank you for all you do to promote Greenville around the World. :thumbsup:

Edit: I love Greenville with all my heart too. There isn't a place like it in the U.S., and I continually try and convince people to visit. Sometimes I get my progressive mentality tangled up with an aggressive one. That is not a good thing when dealing with proper urban development. ;)

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  • 2 weeks later...

I'm not sure where to post this so i'll post it here but here is an update about the Camperdown and the Pinnacle on Main. According to the Greenville Condo Store, the Camperdown Condos is scheduled to start by the end of this month and the Pinnacle on Main has a few presales left before they can start construction.

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^^

I hope they mean it this time. With the exception of Riverplace and the Baseball park, no major project has gotten underway in some time DT. I'm ready to see more cranes.

You mean 400 North Main, The Bookends, Wachovia Place, Poinsett Corners, Liberty Bridge, weren't major projects? :huh:

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I hope they mean it this time too. I think the Pinnacle on Main should of had an info center like The Camperdown, Terrace at Riverplace, and the Field House at West End did so they could have sold their units more quickly and get this project off of the ground.

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You mean 400 North Main, The Bookends, Wachovia Place, Poinsett Corners, Liberty Bridge, weren't major projects? :huh:

All of those projects have been completed for some time. And they started construction over a year or more before that. No new "starts" other than the aforementioned Riverplace and Ballpark (Fieldhouse) have commenced since. There is nothing else in the pipeline currently.

The Poinsett Corners auction was in late October 2002. While I didn't specify, I had private projects in mind, not public ones like the Liberty Bridge.

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