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Two West Fulton - RSC/Second Story Prop.


GRDadof3

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  • 2 weeks later...

Nope, I'm waiting to hear just like everyone else. My only "insider" info for this project is what I get here. I can't wait to change the status from "proposed" to "groundbreaking....." :unsure:

The only thing that I've noticed is that this sign posted last Fall is gone:

9d8f8280.jpg

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It will completely transform the "feel" of all of downtown, IMO. You'll be able to see the top portion of it from Pearl & Monroe, Fulton & Market, North Division, Commerce, and the whole East Fulton/LaGrave area :w00t: . I just wonder if Sam Cummings has the moxy to make it happen. There's a big difference between urban rehabs and modern mid-rise infill.

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I hope, and believe that Second Story and RSC will have the moxy to do it. A little worried about tenants, but we'll see where the chips fall.

I think everyone (not here) is so concerned about a movie theatre, a pharmacy and a bookstore (taken) as being the savior for downtown. F*ck the movie theatre and use the darn pharmacy up the stree; build more entertainment. Sustainable business will follow anyone willing to live downtown and most people live downtown because it is *FUN*. It's all dollars and cents, and I don't think being able to see King Kong at the corner of Fulton and Division is the savior of GR. :)

Joe

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  • 2 weeks later...
  • 2 weeks later...

I saw some workers out in the lot drilling/etc. as if they were taking soil samples.

Has anyone heard if a timeline has been established for this property?

Why the delay?

Last I heard they were targeting the '07-'08 range for this project. Don't expect anything to happen fast over there.

It makes me chuckle a bit that everyone wants everything built tomorrow (JD, I'm not picking on you here. Just making a comment in general). Try sitting in the driver

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Thank you Nitro! Well said. I was going to say that in the River House thread. It really is a dance from the sales side too. Customer A comes in the door "When is the project supposed to start?", if salesperson says "We don't know because we can't start until 60% are sold", the customer would then say "Call me when you get 60%". :wacko: You will never reach the 60%!!

Customer B comes in "When do you think you'll start?", salesperson "We hope to start in ......, we have.....reserved already, we hope to have you move in by .............., of course we can't start until we get 60%, but we're approaching that number quickly :) ". Customer says "That sounds pretty good, how much deposit do I need to put down?" :)

At least from the sales/marketing side, that's why start dates go from November to December to January......until you hit the 60%. In some red hot markets, you're lucky enough to sell out at press release (The Derby in EGR).

Hopefully that makes sense.

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Does the fact that it is in downtown, versus a field in the middle of suburbia, make it that more complicated to get done? Just seems that projects in the burbs seem to go from announcement to construction a lot quicker than urban projects. Sorry for my ignorance, but just an observation of mine.

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Does the fact that it is in downtown, versus a field in the middle of suburbia, make it that more complicated to get done? Just seems that projects in the burbs seem to go from announcement to construction a lot quicker than urban projects. Sorry for my ignorance, but just an observation of mine.

Depends. One of the other factors that delays as well is seeking tax credit, DDA money, etc. etc. Basically any subsidy.

Depending on who the money is coming from, those wheels can turn very slow. schla03.gif

Some of that funding just plain isn't available in the suburbs. So it makes cutting to the chase a bit easier.

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