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NewTowner

Signature Tower

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No need to rehash the FAA issue. I posted the Tennessean article a few weeks ago that clarified why the FAA had made flight path changes. There was no mention of ST though the Bellsouth Tower was mentioned. The change didn't at all sound driven by a particular building but rather seemed intended to keep relatively low flying aircraft away from densely populated areas, ie. downtowns. Can you imagine the FAA implementing flight path changes for a yet to be sold high rise lacking any apparent debt or sufficient equity to be constructed ? Not even ole Brownee would let that happen. :lol:

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One even recently referred to ST as Tony's Folly.

Oh! Thanks for letting us know. And to think we've been duped this whole time.

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Sorry to address this (below) once again but I had just breezed through it quickly last night. Having looked at it again I have to say that you don't need to harbor much skepticism for ST to dismiss each and every point of proof (all 5) offered by this poster that ST is "happening". If Tony has blast permits (which I don't doubt) then the cost of sending out blast notices is that of the envelopes and stamps to do the mailer.

This post looks more likely to have been authored by a skyscraper booster than a buyer but that's obviously just my opinion. I conceed it's theoretically possible for someone to be both.

To everyone with questions and misconceptions of Signature Tower Nashville, let me do some clarification if you don't mind. First I have bought in the tower and can confirm that reservations have and are being converted to contract....therefore this project is happening.

Second, the building will be breaking ground within the next two weeks, due to the estimated two months of blasting for the project and the problems that will be posed due to the poor mismanagement of the previous demolition of the former Cain Sloane Department store there is some leg work taking place to ensure as little inconvenience as possible to the current tenants of this extremely busy downtown business district.

Third, confirmation and notification has been sent out to the local residents and businesses to inform of the pending blasting.

Fourth, the FAA and local government have already redrawn approach and take off patterns for one of the runways at Nashville International Airport due to the forming height restrictions in the central business district that have since been shattered from the sheer height of this project.

Fifth, it was confirmed to my by Tony himself that the building is still at 70 stories and 1057' tall.

I hope this not only puts all my fellow proud Nashvillians at ease but also takes the doubt away from those proud citizens of the current skyscraper capitals of this nation; Nashville is not only knocking on your door, we are opening and taking our seat with the ranks of you. Can't wait to see it complete!

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^I've warned you several times not to antagonize the other forumers on this site by giving them the 3rd degree for the things they have posted and in the process attempting to discredit them personally. Since you have returned to doing that in this thread, you are now suspended. I hope, if you decide to come back to UrbanPlanet after this suspension has concluded, that you change your methods because generally you have some good points to make. However so do all of the other forumers on this site and I am not going to stand for people being insulted.

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Oh! Thanks for letting us know. And to think we've been duped this whole time.

Yeah, I have to agree I wouldn't consider it a folly if he doesn't get it through. Mr. G. is obviously doing whatever he feels necessary to make it move. There are several highrise proposals in the SE that I find totally intriguing including...

Signature of course

Trump Charlotte (you guys in Nashville may have a challenger..heh heh)

Mandarin Oriental in Atlanta

Wachovia Charlotte (not a proposal now but gettin' built)

Museum Plaza in Louisville (I still don't like the design and yet I am intrigued to see it once complete).

If all or none of these happen life will go on. If Signature happens, great. IF not, Tony Giarratanna will move on to something else and Signature Tower will simply be a nice vision that didn't happen.

But I think it will happen. Too many things going in favor right now.

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If this tower gets built at 55 stories I say it's still a success!! but I don't believe those rumors that Giarrantana is only faking his sales statistics - the scenarios seem to far fetched!

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Well its delayed, not put on hold. So we'll just have to wait and see how things develop. I'm still optimistic something very substantial will get built here in the near term, with the current Sig Tower still the probable project.

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I'm not sure what to make of that. Building permit "pulled" means what? I'm not sure what the word pulled means in relation to the permit.

Yes...I noticed that as well. That seems like good news, but the delay doesn't. Anyone know any more than what the article states?

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Not an expert, but usually when someone says that permits were pulled it means that they were aquired. The news that the permits are - in hand - is good news as that is one of the major signs that things might progress. As for the project being delayed, that isn't such new news. As we all know they didn't start truning dirt on July 7th or the 15th which were two dates that were floated sometime ago. The next target dates were set for loosly at the end of July and we still dont have any dirt turning. We'll just have to wait and see what August brings.

Question for anyone who knows.....

How long is a permit good for? If they were pulled in June will they have a time limit of a few months or so?

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Hate to be a naysayer, but this sounds like a issue related to the tightening credit markets, which caused the drop in the stock market indices last week. If I were a banker, the last place I'd want to be putting my money right now is in a condo mega-project in a mid-tier city like Nashville. It's the way real estate development cycles work; lenders stop financing risky projects, and put their money into safer investments. You're gonna see a bloodbath of residential projects being put "on hold" all over the country over the next few months.

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^ The issue with the lending market is a concern to take into consideration. There is no way of saying if it will effect this project or any other specifically at this point, but the availibility of credit is dwindling rapidly at the moment and may even sink some of the big private equity deals that were in the works. This could not just effect Sig but a host of high profile and worthy projects across the country as jliv stated.

I'm hoping for the best though. There is no reason to do otherwise, just things to take into consideration in regards to the future progress of the project.

I really want this project to go up. It would be a great marketing image for Nashville and the state to have such a high profile signature building. Not to mention do wonders for the progress of downtown.

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Hate to be a naysayer, but this sounds like a issue related to the tightening credit markets, which caused the drop in the stock market indices last week. If I were a banker, the last place I'd want to be putting my money right now is in a condo mega-project in a mid-tier city like Nashville. It's the way real estate development cycles work; lenders stop financing risky projects, and put their money into safer investments. You're gonna see a bloodbath of residential projects being put "on hold" all over the country over the next few months.

While there are probably others that share this view, I believe the economy is far stronger than you give it credit, especially in mid-tier cities such as Nashville. I see no blood bath in the Nashville real estate market myself. By the way, look for the markets to go back up next week....That's my prediction.

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Someone please explain to me what this means: On News 5 last night, they said Tony is saying they are delaying the project to wait for a more "practical" time to begin. That's about all they said.

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Someone please explain to me what this means: On News 5 last night, they said Tony is saying they are delaying the project to wait for a more "practical" time to begin. That's about all they said.

It's all the information I need to know that he is not ready now. In fact, IMO the reason(s) is irrelevant to me b/c he either will or will not get it resolved before his window of opportunity shuts. We just don't know how long that window will stay open. That depends on so many factors that cannot even be accurately speculated on.

BTW: Bizjournals reported last week that he has pushed back his groundbreaking to an unannounced date. No reasons were stated or speculated upon as to why he is not ready.

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News five only repoted what the Business Journal Repoted on Thurday or Friday. Nothing new at all beyond that the permits had been pulled and that construction would start when it starts. Jump back a few days in the post. Once again the news stations are behind and picking up on the local papers stories.

The media was bound to notice sooner or later that construction didn't start on the 7th nor on the 21st of July as those were the rumored dates. Good news is the permits are pulled and that reservations are climing, sigifigantly in the last week. Thanks to Plasticman for keeping up with all those. Tony might be waiting for a few more sales or for construction materials to come down a bit as there is a good bet on the later as the market has taken a plunge the last few days.

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It would seem to me that nothing has changed from the perspective of watching his project as we have said all along this project would not move forward until there were enough sales in order to get financing from the bank(s). It would seem this number has not been reached yet and until it does this project isn't going to move forward despite all the predictions of various ground breaking dates. I note these dates continue to pass by while the premise of having enough sales to justify the project is still proven. I do wonder however why someone in the news organizations has not gone and looked at what permits were pulled. These should be a matter of public record and open for review.

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Just in support of the above two comments and that a sales minimum must be met, such is noted on the project's wikipedia entry.

"construction of the building itself has been delayed until half of the 400 residential apartment units have been sold."

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Can anyone confirm what was posted on NC? It was stated that patrons of the parking lot were officially told to make other arrangements by the end of August. Is this true, or just the same drivel we hear about every month?

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Nobody (other than Giarratana's people) knows anything about the financing or minimum units. There has been nothing officially announced on that either. The marketing still goes on.

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Can anyone confirm what was posted on NC? It was stated that patrons of the parking lot were officially told to make other arrangements by the end of August. Is this true, or just the same drivel we hear about every month?

What is the NC? ....... I last stopped by on the 18th and the worker there said that the workers had been told they were closing down the parking lot every month since May. He said "we're told every month that they are closing but we're still here." I'll try and stop in again on Monday and talk to a worker and see if they've been notified that they are out of a job.

By the way, congrats to Savethepreds.com, awsome job on donating the $20,000 worth of tickets to the kids charity. Great to see the organization help keep the preds which is vital to our DT development.

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