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CONSTRUCTION THREAD: 98 East McBee

g-man430

By g-man430
in Greenville

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cdude9409 Unincorporated Area

cdude9409

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Oh, so that's what it was about. Thanks for the story, adrockc2.

"At the other end of Main Street, near the 25-story Landmark Building, developers are working on the 15-story Pinnacle on Main building, which is planned for late 2007." When did this thing become 15 stories and is that the completion date? Did you know, I actually emailed WYFF yesterday wondering why they didn't post a story on this stuff in a while. I guess I got the message through. :)

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GvilleSC Megalopolis

GvilleSC

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I think that the real reason our projects seem to sit around so long is because we make it that way. We go day to day waiting for that crane or that red clay to get moved around. Waiting so impatiently makes it seem much longer than it really is. Attacking the developers with questions, so they give you just an answer to satisfy your request doesn't help either-- or so that seems to happen. Our developments are great in number, but we overlook that due to our anxious attitudes about something around the corner. I'm just as guilty as the next person, I know. Our excitement about watching Greenville grow is so great that it actually negatively affects our perception because we're so excited. It's not a bad thing to be enthusiastic about a place, just don't let it bring you down.

Postive comment: Isn't Riverplace awesome!? (sorry off-topic)

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Greenville City

Greenville

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Also, it says now the Peacock is going to be 12 stories tall, not 11. Even better news. :)

It also says that the Peacock folks have raised $12 million of the $20 million needed to begin construction. How do they obtain the other $8 million, and how realistic is it that they will do so anytime soon? I am not trying to be a downer, but am honestly asking because I have no idea how these things work. :)

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vicupstate Metropolitan Area

vicupstate

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It also says that the Peacock folks have raised $12 million of the $20 million needed to begin construction. How do they obtain the other $8 million, and how realistic is it that they will do so anytime soon? I am not trying to be a downer, but am honestly asking because I have no idea how these things work. :)

The project costs $65mm, so 20mm would be the equity (cash or equivalemt) that the developers are required to have. While this project is more likely than the Pinnacle or Camperdown, to come out of the ground, I wouldn't expect a groundbreaking for at least a month, perhap longer. It looks like the September groundbreaking was a "rosie scenario" date.

Frankly, I think rising construction costs and interest rates along with tighter lending policies are putting a damper on things.

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Greenville City

Greenville

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Quote from the article:

"Developers of the proposed Peacock Hotel & Spa say they won't be able to break ground on the $60 million luxury hotel this month as originally hoped."

Thanks, Captain Obvious! :lol:

Seriously, the November date is disappointing but not surprising. It sounds like the water line needing to be moved would have prevented this from proceeding now anyway. Hopefully they can quickly find the $8 million needed to reach their $20 million goal.

The article says that the building will be 11 stories. Didn't we decide that the hotel is 11 stories and the condos are 3 on top, making the building a total of 14 stories?

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distortedlogic Town

distortedlogic

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Quote from the article:

"Developers of the proposed Peacock Hotel & Spa say they won't be able to break ground on the $60 million luxury hotel this month as originally hoped."

Thanks, Captain Obvious! :lol:

Seriously, the November date is disappointing but not surprising. It sounds like the water line needing to be moved would have prevented this from proceeding now anyway. Hopefully they can quickly find the $8 million needed to reach their $20 million goal.

The article says that the building will be 11 stories. Didn't we decide that the hotel is 11 stories and the condos are 3 on top, making the building a total of 14 stories?

Yes, it will be 14 stories. I am not surprised at this delay, if for no other reason than all these projects get delayed. But apparently the developers were hoping to raise the whole 20 million by mid september, but have in fact raisd only 60% of that. I don't know if that sounds too good, that they have raised only 60% of what they had thought. I would not count on this starting until after the first of the year sometime.

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cdude9409 Unincorporated Area

cdude9409

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Yes, it will be 14 stories. I am not surprised at this delay, if for no other reason than all these projects get delayed. But apparently the developers were hoping to raise the whole 20 million by mid september, but have in fact raisd only 60% of that. I don't know if that sounds too good, that they have raised only 60% of what they had thought. I would not count on this starting until after the first of the year sometime.

No, it will be 12 stories with the height of a 14 story building. One-story lobby with the height of two-stories, eight-stories for hotel rooms, and three-stories for condos. I pretty sure it will start before December sometime. That is actually very good to raise 12 million of 20 million dollars in just a couple of months. These are very rich and popular people that are building this hotel and shouldn't have any problems getting investors and the other 8 million by the end of November. Also, it wouldn't have mattered whether they raised the 20 million dollars by now or not, seeing how the city of Greenville doesn't want to move the water line until after Fall for Greenville.

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cdude9409 Unincorporated Area

cdude9409

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If it starts by november i believe that is good. Considering it was only anounced earlier this year. We have been waiting on "other" projects for way over a year to start.

This was anounced in July. A November start date would be very good.

I agree with both of these statements. :thumbsup:

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  • 2 weeks later...
erm1981 Hamlet

erm1981

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Just letting you know that they are doing some work on the peacock site. The site is right down from us at publix(mcbee station) so i walked down there and took a look at it. It appears they are putting some very big water lines in and they have a track ho and a really big front end loader out there. Its progressing...

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GvilleSC Megalopolis

GvilleSC

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Just letting you know that they are doing some work on the peacock site. The site is right down from us at publix(mcbee station) so i walked down there and took a look at it. It appears they are putting some very big water lines in and they have a track ho and a really big front end loader out there. Its progressing...

:yahoo: I Can't wait!!!

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