West End Summit update

[titanhog]

It's possible the Music City Center convention complex will help get this project over the hump. I would imagine Intercontinental is much more likely to stick this out waiting for the project to break ground knowing that the Convention Center will be operational in 2012. I think the same logic may apply to the Signature Tower project as well. In fact with Signature, the Hotel Palomar has actually expressed a desire to enlarge their hotel from the original plan. I'm sure that desire is due to the MCC project.

[jcoop]

So...how does Intercontinental or Hotel Palomar increasing their number of rooms help Alex or Tony get financing? I'm assuming they will rent space just like an office tenant?

[titanhog]

I think he was more making the point that they will be more likely to stick out waiting for the project to get financing because they know the demand for hotel rooms in the city is going to keep increasing...one sign of that is the willingness to have more rooms...I don't think he meant to imply it would help get financing.

[Hankster]

So...how does Intercontinental or Hotel Palomar increasing their number of rooms help Alex or Tony get financing? I'm assuming they will rent space just like an office tenant?

[gsbell]

This morning there was a guy from a pump rental company taking pictures of the hole. Maybe they are going to start pumping water again.

[timmay143]

I'm sorry...but all I can do is sort of chuckle at that! How many times are they going to pump out the water! Maybe they can be "green" and recycle it. I am a big fan of this complex, but I won't believe anything until I see cranes and cement trucks. Maybe the MCC will boost some of these limbo developments.

[gsbell]

The water is getting deeper again, the pump at the corner of Hayes & 16th was removed.

[smeagolsfree]

Definitely not a good Oman for Palmer. I love the way all of the heads associated with certain projects in town assure us that these projects are going full steam ahead when in fact they have been bluffing the entire time. ASP has certainly lost a lot of credibility in Nashville now.

[El Norte]

What is amazing is to see these condo projects struggling even when energy prices are at record highs (which should be causing people to move into the city). It just goes to show you how dependent on cheap credit the most recent building boom was. Neither the developers nor the potential customers had any money of their own, all was built on credit, both the supply side and the demand side. Where is the real wealth? It seems the biggest winners in this latest boom might have been the architects who actually got paid to design stuff, and the contractors got a decent pay-out from the towers that did get built. It's still a question-mark whether the builders or the banks behind them will make any money. I think it will be years before we see another major high-rise project built in Nashville. Our two trophies from this latest boom are Viridian and Pinnacle, with honerable mention going to Icon, Adelicia, and Suntrust. See you next decade!

[satalac]

Definitely not a good Oman for Palmer. I love the way all of the heads associated with certain projects in town assure us that these projects are going full steam ahead when in fact they have been bluffing the entire time. ASP has certainly lost a lot of credibility in Nashville now.

[El Norte]

el norteno (sorry, can't figure out how to put the tilde on the n, haha), do you think that there will be a high rise hotel built along with the new convention center? i believe that there is still some room for one or two of these hotels. financing should be a bit easier (with emphasis on a bit) with these than with business and condo towers. i do believe you are correct about the business and condo towers however.

[titanhog]

[quote name='El Norte

[timmay143]

Today the pump guys came back and pulled the suction hose from the pit.

[gsbell]

Looks as if there is still a ton of water in the hole (from the "construction cam"). Did they even pump at all?