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CONSTRUCTION THREAD: 98 East McBee


g-man430

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^The fact that its downtown would give it points in my book. I try to avoid interstate hotels if at all possible. Architecturally, the all look the same. While that's rarely a deciding factor in and of itself for me its still important to consider. People make subconscious decision about places and how they relate to their surroundings whether they realize it or not. Usually if a hotel is in a city, its distinct from the generic suburban hotel in that it either blends in nicely with the surrounding area (Hampton Inn) or it sticks out in some sort of unique way (this one). Y'all know that I don't usually care for modern architecture like this, but if nothing else it will add some very unique flare to downtown Greenville.

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I used steel in a general sense and should have said frame. :lol: I don't know my proper construction terms, but probably reinforced concrete.....does that sound right? Erm would know.

Oh ok. I was hoping for steel so it would rise rather fast, but reinforced concrete rises fast enough I suppose...

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  • 1 month later...

Those first floor columns of the half built structure will make a unique avant garde art park for downtown. :lol:

I'm just amazed at some of the local developers.....simply amazed..........

I don't get it. Hopefully the Gateway site developers have their game faces on. I don't think any of us have the patience for another large project that stalls or fails!

I will hope by some stroke of luck that the Peacock developers are revising some aspects of the project for the better. Don't worry, I'm not holding my breath!

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Will some of you in the construction/finance/development industries please read this article and see if it rings true? Would love to hear some professional opinions.

The article doesn't ring true to me. In a nutshell, the Peacock has suspended construction for a month or two until credit markets loosen and financing is finalized. I have NEVER heard of this. Lived in many large cities, and the closest thing I've seen happen was halted construction on a hospital (once the 12 story frame was up), for a hospital owned by HealthSouth (which went through a huge scandal, federal investigation and reorganization.....this was in Birmingham).

http://greenvilleonline.com/apps/pbcs.dll/...S/80116064/1003

How can a partially built hotel simply halt construction?

I've met Mark Kent at functions. He seems reputable. His main company, Kentwool is solid and highly respected (the major provider for wool to St. John Knits).

This all simply doesn't add up. :dontknow::dontknow::dontknow:

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I don't know what to tell you. I would expect that this is (or should be) little different than securing a construction loan for building a new home. I'm not sure what the details to the financing plan would be for a building of this type, though. Typically when constructing a home, you can either finance it with a two-step (one loan to finance construction and another to finance the structure itself after construction completes) or single-step (one loan to finance both construction of the building and the mortgage on the building) loan. Regardless, this whole mess seems a bit odd to me.

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Bush. League.

Seriously, who the heck starts construction before financing is secured? I think that borders on unethical, especially when you consider the people who have paid money to secure luxury condos. And what's this about building it in phases while waiting on the design to take place? Why couldn't someone have been designing it while it was on hold? I guess we shouldn't be surprised. These are the same developers who released renderings and presold all 12 condos before realizing that they couldn't foot the bill.

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In defense of the developers on this one, the 'design-build' idea CAN be a good one in some cases. It allows the architect to design and make decisions as it's being built, SO that if something is unsure, you can see the building at FULL SCALE and really understand how it might work. In the end it has the potential to turn out nicer, because it's possible that a more informed decision can be made in terms of space, materials, and details.

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I can understand the design-build part, but the financing thing sounds rediculous (even though I don't know much about this sort of thing). :dontknow::dontknow::dontknow:

WHat the HECK????

I aslo wonder about the "month or two" delay. That sounds like pure speculation. How do they knoww the financing will be better at that time? They may never get better for tht matter. :sick:

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I think the financing thing does happen. Isn't that what happened with Pendleton Station? Half built and then basically abandoned.

I can also speak from the perspective of living in Bangkok. We have half built highrise buildings all over town. The reason is when the currency crashed over 10 years ago, the banks didn't have money to lend. So even though, financing had been secured, it was not available. And projects that had already had huge amounts of money poured into them halted. I can't tell you how weird it is. 50 story buildings, topped out, with decorative balconies and fully enclosed, but completely empty because the developer couldn't get the final 10% financing to finish the thing. :(

I don't think US banks are in the same situation, but the dollar has weakened a lot in the last year. The cost of building has been going up with oil and raw materials increasing. And the banking industry is under a lot of pressure.

I am admittedly not an expert, just guessing.

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I don't think US banks are in the same situation, but the dollar has weakened a lot in the last year. The cost of building has been going up with oil and raw materials increasing. And the banking industry is under a lot of pressure.

I am admittedly not an expert, just guessing.

Some of this has to be related to the struggles of the banking industry, in general. The banking industry is undergoing a huge shift that is changing the way everything is funded. Banks that have allowed alot of crappy residential loans are taking it on the chin. While there isn't necessarily a direct impact, the willingness for banks to take on risk is pretty low right now.

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Design build typically splits the design up by discipline, do the site work first and then do the structure etc. You would really need to have designed the entire structural system before you start coming out of the ground. Not build the first floor structure and then design the rest of it. Sounds a bit like a smoke and mirrors story.

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