Signature Tower

[jice]

I was expecting this since the first set wasn't 100% complete. Several structural items weren't fully designed yet. I would expect 4 or 5 more revised sets before an "Issued for Construction" set comes out.

So we aren't talking a re-design of the tower. Just basically... more time to finalize construction plans?

[Duke32]

So we aren't talking a re-design of the tower. Just basically... more time to finalize construction plans?

Right. Plans needed to come out for budget numbers. Now they have to go back and fill in the blanks.

[monsoon]

The interesting part of that above, if it is true, is the fact the project is being re-bid. I am not exactly sure what to make of that, but it does indicate there is probably more news to come.

[Hankster]

The interesting part of that above, if it is true, is the fact the project is being re-bid. I am not exactly sure what to make of that, but it does indicate there is probably more news to come.

It's becoming obvious to me that the design process for a tower such as this is a much more complicated process than many thought (Tony. G included, maybe?), requiring more time, and therefore pushing the project start date back a ways. This could possibly allow Tony to launch his sales center in January, and get the number of reservations (sales contacts?) he needs to secure financing before he would be ready to break ground. I'm assuming there aren't that many construction companies with experience in building such a tall tower. Does anyone know how many companies are bidding on construction?

[ATLBrain]

Of course, I've taken a wait and see approach to this project since just after the initial excitement. That's one reason you won't see me engage in the "will he/won't he" speculation.

However, I've thought all along that (if this project gets off the ground), it's not going to start before 2007. And maybe my brain still has cobwebs in those areas, but I seem to remember in the initial press that it wouldn't start until then.

[Duke32]

I'm assuming there aren't that many construction companies with experience in building such a tall tower. Does anyone know how many companies are bidding on construction?

Turner Construction has been pegged as project managers on it. I'm sure they will be sending several people from their New York or Atlanta office to help out the local Turner Universal office.

The next major position is who is going to do the concrete work. I've heard two names thrown out so far, but not much interest from local players. They would just as soon stay out of it, is what I've been told.

[ATLBrain]

I've heard two names thrown out so far, but not much interest from local players. They would just as soon stay out of it, is what I've been told.

Any reasons given why not... negative perhaps?

[Duke32]

Any reasons given why not... negative perhaps?

You can imagine the manpower and time commitment this project will require. Some cannot afford to throw all of their eggs in one basket. To them, more smaller jobs is better than one large job. If you pass on all the other jobs to get this one big one and it goes south, you're screwed and have no work.

[FromParkAveToTN]

The height of this building is not attractive at all, especially for someone who witnessed the attacks on the World Trade Centers. I refuse to live above the seventh floor of any building. I believe that

[ATLBrain]

You can imagine the manpower and time commitment this project will require. Some cannot afford to throw all of their eggs in one basket. To them, more smaller jobs is better than one large job. If you pass on all the other jobs to get this one big one and it goes south, you're screwed and have no work.

OIC, good reasons, and good business.

[Jeeper12]

You can imagine the manpower and time commitment this project will require. Some cannot afford to throw all of their eggs in one basket. To them, more smaller jobs is better than one large job. If you pass on all the other jobs to get this one big one and it goes south, you're screwed and have no work.

Which begs the question: how interested are big subs in big markets likely to be in pursuing a very uncertain job in a small market ? Most will pass and those that don't will typically charge dearly for the time-consuming effort.

[Plasticman]

Just checked the reservations and 3 of 6 of the penthouses are reserved and 3 out of 4 of the 64th floor are reserved. I counted 135 reservations so far. Not sure how accurate my count was.

[Hankster]

Just checked the reservations and 3 of 6 of the penthouses are reserved and 3 out of 4 of the 64th floor are reserved. I counted 135 reservations so far. Not sure how accurate my count was.

One that was recently reserved was the 65th floor penthouse. That one includes a balcony on all four sides and is the most expensive property in the entire project. It was listed at $7,000,000. That one reservation would be as valuable at 10 reservations on the lower floors. There are six reservations out of ten condos on floors 64 and up. These 6 reservations are for properties listed at prices totalling $29 Million.....not too shabby. Who says Tony Giarratana doesn't understand or know how to cater to the rich in Nashville?

By the way, I counted 137 reservations, not 135. When the sales office opens, I fully expect the number of reservations to climb fast.

[Hankster]

One that was recently reserved was the 65th floor penthouse. That one includes a balcony on all four sides and is the most expensive property in the entire project. It was listed at $7,000,000. That one reservation would be as valuable at 10 reservations on the lower floors. There are six reservations out of ten condos on floors 64 and up. These 6 reservations are for properties listed at prices totalling $29 Million.....not too shabby. Who says Tony Giarratana doesn't understand or know how to cater to the rich in Nashville?

By the way, I counted 137 reservations, not 135. When the sales office opens, I fully expect the number of reservations to climb fast.

It's just 5 days later, and there are 4 more reservations listed on the Signature Tower website bringing the total to 141. It's seems like things are already heating up, and the sales office hasn't even opened up yet. I'm starting to feel more confident of this thing getting built every day. Here's a breakdown of the reservations:

FLOORS........AVAILABLE.....RESERVED

13 - 20.............80...................27

21 - 30...........100...................28

31 - 39.............89...................37

40 - 47.............64...................18

48 - 54.............56...................16

55 - 63.............36.....................8

64 - 70.............11.....................7

TOTALS..........436.................141

[Jeeper12]

It's just 5 days later, and there are 4 more reservations listed on the Signature Tower website bringing the total to 141. It's seems like things are already heating up, and the sales office hasn't even opened up yet.

When will this sales center open up anyway ? I thought Gaushell said it would open in January but Richard Lawson hasn't reported a building permit for it yet and it will take 6-8 weeks to finish out if it's well done. Palmer's permit was reported a couple weeks ago so he could possibly open up in late January I guess.

I think a building permit pulled with a value in excess of $300-400K will be a sign that, whatever the "naysayers" may think, Girantanna is still bullish about his chances. On the other hand, if he continues to delay a strong commitment to his sales center that probably won't be a good sign for the project. At a minimum, it will significantly delay his start even if he can overcome his cost issues.

[nashvillwill]

Wouldn't it make perferct sense to put the Signature sales center where the Viridian sales center currently is? I mean...doesn't that make perfect sense, logically and financially. What is the point of the completed/sold-out Viridian having a sales center?

[dan326]

Didn't Signature start out as a proposal for a 30/40 story tower?

[bruceman]

Didn't Signature start out as a proposal for a 30/40 story tower?

It began as a 55 story tower of a completely different design. Looks much better now.

[Hankster]

It began as a 55 story tower of a completely different design. Looks much better now.

Here's the original design:

[franktown]

Wow, I had never see those renderings, but that thing was UGLY! It looks like a double-wide Cumberland....and that's not a good thing in my book. The current design is MUCH better IMO

[dan326]

Definetly a big improvement.

[doormanpoet]

According to William Williams and David Kaeline (sp) (who used to work for MDHA )who now works for Tony the groundbreaking is in May and 144 units are sold. It is definately happening, no question now. Tony has everything on schedule.

[queensguy06]

Sorry, it's been a while since I have looked through this thread...what happened to the Jan. groundbreaking date? And don't hold me over the coals for this, but I actually like the original design better than current one.

[monsoon]

IMO, that older design looks a lot better and it integrates with the street better. It is better proportioned, and has a classic SS look to it. In contrast the current plan has a lot of trendy design points that I will guess that nobody will appreciate 15 to 20 years from now. Also, it's proportions are terrible. It basically looks like a post coming out of the ground with a Christmas ornament bolted on the top.

[nashscan]

Yeah, and the old drawing looks about as interesting as a McDonalds french fry.