Signature Tower

[nashman2]

Did anyone else notice that a building permit was issued for the Tower on Friday?

http://www.nashville.gov/codes/permits/index.html

Click on November 2. First entry.

[monsoon]

Actually the Empire State building was hit by a WWII bomber flying in thick fog and without the benefit of modern technology. It was not a commercial flight. But now that you bring it up, Manhattan Island, home to the tallest collection of skyscrapers in the world, is surrounded by commercial airports with Laguardia airport being right in the city.

[nsvlbimmerguy]

Also one could look to San Diego's Lindburgh field which is right downtown, and while the city doesn't boast many exceptionally large skyscrapers, just watching a landing from inside the plane looks like weaving through traffic cones. (with the buildings as the cones)

[Plasticman]

I flew in over Atlanta a month ago on Delta and we circled right over downtown and directly over the 1,000+ foot Bank of America plus the other buildings, most of which are well over 700 and 800 feet. We along with several other aircraft circled the downtown area and were probably no more than 3,000-4,000 feet up.

This FAA thing is nothing.

[Lexy]

I flew in over Atlanta a month ago on Delta and we circled right over downtown and directly over the 1,000+ foot Bank of America plus the other buildings, most of which are well over 700 and 800 feet. We along with several other aircraft circled the downtown area and were probably no more than 3,000-4,000 feet up.

This FAA thing is nothing.

If that's the case, there was still 2000 feet between the airplane and the roofs of the buildings then. Well above the minimum 1000 feet clearance guideline. Of course that's not a problem, you are within the minimum clearance threshold. They are saying, like I have said time and time again on here, that in problematic weather/flight control failure, or both, that Signature may not allow the flights that depart off 31 to maintain a 1000 foot minimum clearance of the roof of the building.

We are talking about airplanes and jets here people, not a Honda Accord.

[cashville]

The only problem this FAA thing will cause is potential buyers being worried that the building will not get built because of this announcement.

[Lexy]

The only problem this FAA thing will cause is potential buyers being worried that the building will not get built because of this announcement.

Yeah it could. Problem on here is so many people have the "Tony G." sunglasses on and are not taking reality seriously here. Reality is he HAS NOT sold enough units yet so it's doubtful ANYTHING will happen anytime soon. How many groundbreakings should this thing have had by now? Like I said earlier, Tony needs to crap or get off the pot with this thing. He's had plenty of time to pitch, pitch, and pitch some more. Now it's time to either turn some dirt, or find a way to make it work.

Back to the topic:

True, this FAA thing may mean nothing in the grand scheme of things. But it may also jack things up for them when it comes time to insure the tower and all that is Tony's there on that lot. There are bunches of variables to consider here. It's not something you can say will just get shrugged off like it's nothing. But in the same breath, I don't think it's a proposal killer either.

[nashvylle]

With Tony's great new marketing strategies with the Predators and Lexus, I expect sales to increase towards a construction soon. If/When sales get the banking loan, FAA should not be a problem. It is a hurdle, but I believe the Tennessean, who is weeks late on reporting this already resolved issue sources tell me, is making it sound like more of a problem than it should be.

[Midtown]

Did anyone else notice that a building permit was issued for the Tower on Friday?

http://www.nashville.gov/codes/permits/index.html

Click on November 2. First entry.

It's not a building permit. It's a master project and site tracking number, to track any and all permits that may follow for the stated scope, with may also include a building permit someday in the future, hopefully.

A building permit won't be issued until final stamped design docs are done, reviewed and approved by Metro, and a submittal is made by a GC for some sort of construction activity on site.

MT

[ATLBrain]

I can't believe this hasn't been linked yet. So here goes...

http://www.bizjournals.com/nashville/dailyedition.html#1

At least it appears that Giarratana is ready to move forward.

[jcoop]

Boy I can see it right now....excavation will begin late this year and we could basically just copy and paste the conversation over from the WES thread...is it actually happening? is it to try and sell condos? is there going to be a big hole with nothing in it?

Unfortunately I am more skeptical about this than WES...but who knows.

[titanhog]

Boy I can see it right now....excavation will begin late this year and we could basically just copy and paste the conversation over from the WES thread...is it actually happening? is it to try and sell condos? is there going to be a big hole with nothing in it?

Unfortunately I am more skeptical about this than WES...but who knows.

With projects like WES and Siggy, what is the definite point where we KNOW without a doubt it's a done deal? You would think that the WES with its huge hole would be a done deal, but I guess you could always fill the hole in...so I guess there's still a chance it might not happen (even though I think it's a done deal).

As for Siggy...when will we know? When Tony digs a hole, will that be enough? Do we need to see concrete poured?

I ask all of this seriously. I don't have a lot of experience watching the culmination of projects like this, so please, someone in the know fill us in!

[Hankster]

Great news! Personally, I would have been surprised of Signature did not break ground before the end of the year. Now, that looks more likely than ever.

[Lexy]

With projects like WES and Siggy, what is the definite point where we KNOW without a doubt it's a done deal? You would think that the WES with its huge hole would be a done deal, but I guess you could always fill the hole in...so I guess there's still a chance it might not happen (even though I think it's a done deal).

As for Siggy...when will we know? When Tony digs a hole, will that be enough? Do we need to see concrete poured?

I ask all of this seriously. I don't have a lot of experience watching the culmination of projects like this, so please, someone in the know fill us in!

Some projects can stop right before they top out. It just depends on the lenders, the owners, and the market. It's never a done deal until the grand opening is held for a skyscraper.

[Flowers]

With projects like WES and Siggy, what is the definite point where we KNOW without a doubt it's a done deal? You would think that the WES with its huge hole would be a done deal, but I guess you could always fill the hole in...so I guess there's still a chance it might not happen (even though I think it's a done deal).

As for Siggy...when will we know? When Tony digs a hole, will that be enough? Do we need to see concrete poured?

I ask all of this seriously. I don't have a lot of experience watching the culmination of projects like this, so please, someone in the know fill us in!

this project will be a done deal when tony has the following:

1) sufficient presales and deposits to satisfy the t.b.d. lender

2) sufficient equity to satisfy the t.b.d. lender's underwriting requirements

3) sufficient sponsorship or guaranty support to satisfy the t.b.d. lender

4) a contractor that's agreed to build the project at a cost and schedule acceptable to the tbd lender

5) a lender committed to fund construction with all of the above satisfied

i could be wrong but i don't think tony has any of these bases covered yet. i don't personally think the faa issue is a big deal and it seems kind of trivial to me considering his other hurdles.

[nashscan]

I hope Tony is working the hell out of the CMA's.

[nashvylle]

Flowers i think Tony has a lot more done than people think.

[monsoon]

Flowers i think Tony has a lot more done than people think.

Do you have any facts that you would like to share that would prove it? The points above are clearly what is needed to build this tower and when they happen will quickly become public knowledge. If you don't have anything that would indicate that he has achieved 1 or more of these goals, then these one liner's really are not something we want to see posted here.

[Onyte9]

Do you have any facts that you would like to share that would prove it? The points above are clearly what is needed to build this tower and when they happen will quickly become public knowledge. If you don't have anything that would indicate that he has achieved 1 or more of these goals, then these one liner's really are not something we want to see posted here.

I agree with you somewhat and I'm not challenging you development knowledge, but weve heard the same things about the WES and construction is moving right along over there. People are saying Alex Palmer's not telling us this hes not telling us that, but truth be told these guys dont have to tell us anything. With that said I'm not sure why he wouldn't make it public because it would be a nice marketing tactic but he dont have to.

[elguapo731]

I agree with you somewhat and I'm not challenging you development knowledge, but weve heard the same things about the WES and construction is moving right along over there. People are saying Alex Palmer's not telling us this hes not telling us that, but truth be told these guys dont have to tell us anything. With that said I'm not sure why he wouldn't make it public because it would be a nice marketing tactic but he dont have to.

Agreed, it would be nice to know what is taken care of, but for the most part, Development Junkies like us would be the only ones who really care about these issues. The average buyer just wants to know when it will be done and when they can move in. WES is flying along and we don't know a singel one of those points mentioned above. The Velocity is about to start construction and I never came acorss the financer or hard sales numbers till they broke ground. I think Tony prob has more done than we realize, but that is just soley what I think.

The public who dosn't follow development or who isn't purchasing could give a rats butt about who his GC or Financer are, perhaps those who have purchased have been privilaged to some of that information. Wish we had more, but sometimes it is what it is....

Last dates for ground breaking were Late Dec, or Early Jan. Contracts signed allow for setbacks till March of 07, so we'll see in the next few months what all he has done.

[Flowers]

People are saying Alex Palmer's not telling us this hes not telling us that, but truth be told these guys dont have to tell us anything. With that said I'm not sure why he wouldn't make it public because it would be a nice marketing tactic but he dont have to.

i don't believe i said tony was obligated to tell anybody anything about anything. i was replying to a post that asked when they could consider the signature project a "done deal". again, if tony had all 5 of the items i mentioned behind him and he disclosed this in sufficient detail to the public then i think that gentle poster could feel like the signature tower was a "done deal". you shouldn't read mre into my post than that.

i agree with your second point only i think it would be much more than a nice markting tactic. if he could say any of those things i think it would give what now seems like a very iffy project a tremendously needed boost of credibility and momentum. that's not gospel just my opnion.

[Onyte9]

i don't believe i said tony was obligated to tell anybody anything about anything. i was replying to a post that asked when they could consider the signature project a "done deal". again, if tony had all 5 of the items i mentioned behind him and he disclosed this in sufficient detail to the public then i think that gentle poster could feel like the signature tower was a "done deal". you shouldn't read mre into my post than that.

i agree with your second point only i think it would be much more than a nice markting tactic. if he could say any of those things i think it would give what now seems like a very iffy project a tremendously needed boost of credibility and momentum. that's not gospel just my opnion.

I didnt read into your post at all. I was replying to something metro said. Thats why I quoted metro.

[marckrejci]

Our latest podcast interview was with Tony, released over the weekend. He answers some of the questions posed in this forum. In an effort to keep the interview relatively short, we weren

[dxartist]

just finished listening to the 35 min podcast. To sum up what was in the podcastas it pertains to Sigi, got several thing out of it, some of which is nothing new.

1. He still doesn't have a general contractor after getting rid of the Turner Construction

2. Stated he has about 50-55% of 200 units needed sold, which would be about 100-110, give or take. Nothing new. (At this point, my opinion, it's going to be really, really hard, to get the last 90-100 units sold, given the current economy and the lowest unit price at $400k)

3. He's throwing out feelers for investors (ie needs money for excavation, $5 million). Wants to start excavation before the end of the year.

4. So far, has put $22 Million into Sigi.

[mempho]

just finished listening to the 35 min podcast. To sum up what was in the podcastas it pertains to Sigi, got several thing out of it, some of which is nothing new.

1. He still doesn't have a general contractor after getting rid of the Turner Construction

2. Stated he has about 50-55% of 200 units needed sold, which would be about 100-110, give or take. Nothing new. (At this point, my opinion, it's going to be really, really hard, to get the last 90-100 units sold, given the current economy and the lowest unit price at $400k)

3. He's throwing out feelers for investors (ie needs money for excavation, $5 million). Wants to start excavation before the end of the year.

4. So far, has put $22 Million into Sigi.

I share the confusion with you guys on this, it seems like it's taking One Beale in Memphis forever to get off of the ground. Wouldn't you guys rather have 3 450 footers, all with a different style and price range? That's just my thoughts, the Nashville skyline looks very good, I don't see why having to have a 1000 footer would be any better than 3 450 footers.