Jump to content

Signature Tower

NewTowner

By NewTowner
in Nashville

Recommended Posts


  • Replies 2.9k
  • Created
  • Last Reply

Top Posters In This Topic

Popular Days

Top Posters In This Topic

Popular Days

Posted Images

smeagolsfree Gigalopolis

smeagolsfree

Posted
Posted

Signs for the Signature going up now according to my source "Scorcher". In addition to this, investors from Boston and NY have been traveling the city getting pricing, mkt. value of high-rises, floor space, foot prints, and occupancy rates of many other buildings in Nashville. Surveying has started to measure seismic waves caused by blasting when digging starts.

This bad boy is about to rise.

Link to comment
Share on other sites
Jonny11788 Unincorporated Area

Jonny11788

Posted
Posted

I can't wait for this to start rising.

It's a shame I'm going to be leaving town for college just as this building boom seems to be truly hitting its stride; on the other hand, I suppose my absence will make the changes seem all the more dramatic when I do come back to town.

Link to comment
Share on other sites
Hankster Town

Hankster

Posted
Posted

Signs for the Signature going up now according to my source "Scorcher". In addition to this, investors from Boston and NY have been traveling the city getting pricing, mkt. value of high-rises, floor space, foot prints, and occupancy rates of many other buildings in Nashville. Surveying has started to measure seismic waves caused by blasting when digging starts.

This bad boy is about to rise.

I'm a little confused as to what you mean. Do you mean they have secured financing? Do you just mean that there are signs that this project may start soon? July 1, for example? Is he saying this "bad boy" is definitely going to break ground or are you reading between the lines? Is there any big reason for concern due to the reported rebidding of the the construction costs? Please clarify as much as you can.

Link to comment
Share on other sites
Hankster Town

Hankster

Posted
Posted

From my understanding, the financing is in line and should start soon. As for a date , I do not know. I cant say all I have heard. But this thing looks almost for sure now. Just pray that the economy does not sour.

I sure hope you're understanding is correct. But, I would imagine that there still must be sales targets that must be met before the loans can be completely done. On the economy note, the Dow Jones Average was down 416 points today. Hopefully that's just a momentary blip. The good news is that a stock market drop will just about assure that interest rates don't go up in the next few months. It fact, it could cause interest rates to go down and make housing investments more attractive.

Link to comment
Share on other sites
northernbizzkit1 Hamlet

northernbizzkit1

Posted
Posted

I sure hope you're understanding is correct. But, I would imagine that there still must be sales targets that must be met before the loans can be completely done. On the economy note, the Dow Jones Average was down 416 points today. Hopefully that's just a momentary blip. The good news is that a stock market drop will just about assure that interest rates don't go up in the next few months. It fact, it cause interesert rates to go down and make housing investments more attractive.

The stock market drop is primarily the market simply correcting itself after a "honeymoon" phase. It's this coupled with Greenspan's remarks about a potential recession later this year as well as the fact that the Chinese government announced yesterday that it plans to regulate some of its business practices...which could slow down its economy as well as our own...but housing start numbers today were higher than expected...should be a pretty good sign.

Link to comment
Share on other sites
producer2 Hamlet

producer2

Posted
Posted

Funny how things change, a 416 point loss a few years ago would have been devastating. Now it is just a "blip" a "correction" that will remedy itself probably by years end. Same goes for how our cities evolve and change, all of this building would not even have been a discussion just a few whort years ago. When I moved to Nashville 14 years ago, there were no professional sports teams and lower broad was somewhere you didn't want to venture out to. Now I live downtown and walk to pro football and hockey games on any given night , along with the symphony and on and on. Gotta love progress! :)

Link to comment
Share on other sites
memphian Hamlet

memphian

Posted
Posted

Awesome news. Just last week I was in Quebec watching the Predators vs. the Canadiens on CBC (all in French of course). I was so hoping to see a glimpse of the skyline during transition but it never happened. Maybe when Sig gets built more people outside of our area will get a good look at Nashville.

Link to comment
Share on other sites
Onyte9 Whistle-Stop

Onyte9

Posted
Posted

I also drove by the sight today and talked to the two man crew putting up the fence around the property. I talked to the guy and asked him if he knew when the consturtion would start and he said started today, then I asked if he knew when the excavation would start and he looked down at the small hole he had hand dug in the asphalt and said it already has. I didnt figure these guys would know anything more than I know and I was right. However they did know that they were puting up a fence but that was about it.

Link to comment
Share on other sites
franktown Hamlet

franktown

Posted
Posted

Do we know if they'll shut down the sidewalk along Church and/or 5th? It has driven me crazy for quite a while that Suntrust Plaza shut down the sidewalk and I have to walk in the street....it just seems so bush league. It's good to see some action at this site, I'm still concerned, but movement will be a good signal to all.

Link to comment
Share on other sites
Jeeper12 Hamlet

Jeeper12

Posted
Posted

This bad boy is about to rise.

Not before several very important questions get answered.

Who will put up the $60-80 million in equity ?

Who will loan the $220-$240 million in construction financing ?

When will Tony convert his first reservation to a contract ?

When will he open a sales center ?

Will he have to adjust his prices up to account for unforeseen costs ? (I'm not sure whether he is working off of SD's or DD's (SD's I would guess) so as you can see this complicates the question of what sales prices need to be).

Will Tony have to increase his deposit requirement to conform to the partner/lenders requirements ?

How many hard contracts must he have in hand (subject to terms above) in order to break ground ?

Unless I missed a pr release all these questions are as unanswered today as they were 6 months ago when they announced a January 07 start so I'm not clear what all the new fuss is about. When Tony holds a press conference and addresses all of the issues I've identified above Nashville will know that he is a man with a very serious and SPECIFIC plan. At that point he will still have to execute that plan: (1) get to DD's or CD's and sign a contract with a GC and (2) secure the targeted number of hard contracts at prices and with deposits that satisfy the partners/lenders). As we sit here today though I think Tony is still a man trying to figure out a plan.

Link to comment
Share on other sites
Onyte9 Whistle-Stop

Onyte9

Posted
Posted

^Bad post. It seems like you have to stop by the signature tower thread and show that youre still excited because this thing still might not be built.

Some people were doing a little sight prep work. I'll admit maybe we got a little bit excited, but that happens when you live in a city your whole life and you hear they are about to construct a monster tower. We all know theres a chance this thing wont be built but does that really mean you have to say soemthing negative about the project every chance you get? Probably just to try and bring people back down to Earth. All I know is that its obvious that the plans are still moving forward so I have any reason to doubt Tony G.

Link to comment
Share on other sites
Hankster Town

Hankster

Posted
Posted

There are many sources close to this project that are very confident of it going forward. There are positive signs of progress, yet as Jeeper pointed out there are significant hurdles yet to be cleared. Publicly we are not being told everything, and there is significant work going on behind the scenes. Some of these hurdles may be closer to being cleared than is publicly known.

Still, where is the Sales center? It was reported a few weeks ago that it would open today. As I asked earlier, does anyone have information on this? There will be no imminent ground breaking until after the sales center opens and sales contracts are signed.

Link to comment
Share on other sites
monsoon Gigalopolis

monsoon

Posted
Posted

^Bad post. It seems like you have to stop by the signature tower thread and show that youre still excited because this thing still might not be built.

Some people were doing a little sight prep work. I'll admit maybe we got a little bit excited, but that happens when you live in a city your whole life and you hear they are about to construct a monster tower. We all know theres a chance this thing wont be built but does that really mean you have to say soemthing negative about the project every chance you get? Probably just to try and bring people back down to Earth. All I know is that its obvious that the plans are still moving forward so I have any reason to doubt Tony G.

There was nothing negative about that post. This is not a skyscraper boosterism site and we don't sit here and mindlessly cheerlead for skyscrapers that may never be built. Instead this site focuses on the reality of building cities and urban places and what was posted accurately reflects what has to happen before they will start construction. You can choose to ignore this reality, that is your business, but don't make claims that you can't back up.

As far as being obvious, I will point out that so far, every claim made in this thread for a schedule has yet to come true.

Link to comment
Share on other sites
Jeeper12 Hamlet

Jeeper12

Posted
Posted

I meant "how come the sales center is still not open?" It was announced that it would open March 1st.

In an earlier post someone had indicated that the sales center would be in the same building (old Suntrust blg) as his offices but on a different floor. Not sure if that is still the plan but I have been suspect of anything impressive materializing since there has apparently been no building permit of significant value pulled for the work. Richard Lawson typically combs through the new permits pretty carefully and he's never reported anything at NP. Either he missed it, which would be unusual, or the value of the work was below whatever minimum threshold he has for reviewing them...Or, a permit still hasn't been issued.

By comparison, Alex Palmer pulled a permit valued at over $350k in December and I understand he is still at least a month away from opening his sales center in Palmer Plaza.

Link to comment
Share on other sites

Archived

This topic is now archived and is closed to further replies.

Go to topic listing

  • Recently Browsing   0 members

    • No registered users viewing this page.
×
×
  • Create New...

Important Information

By using this site you agree to our Terms of Use and Privacy Policy. We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.