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One Beale


qwertycc

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On Saturday I was heading into Bartlett and saw a One Beale billboard on I-40. Its right before exit 18 (Highway 64) heading west-bound on your right-hand side. It shows a lady stepping out of a limo at the entrance. I hope this reassurance of things to come.

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On Saturday I was heading into Bartlett and saw a One Beale billboard on I-40. Its right before exit 18 (Highway 64) heading west-bound on your right-hand side. It shows a lady stepping out of a limo at the entrance. I hope this reassurance of things to come.
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  • 3 weeks later...

$17 million in one week's worth of selling units is not a bad start at all.

I went down and looked at the site this past weekend (the sales office was closed as it was very early on Sat) and getting to see the location and visualize the potential of what it will add to that area of the city was highlight of my weekend in Memphis. I have to say I'm even more psyched about this project now, although I will probably be anxious till ground is broke.

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  • 3 weeks later...
Unfortunately for Nashville, they may not get the Signature Tower. It is on hold and is being scaled back or not at all. NO SALES! I remember when we were excited about our projects, they were more excited because instead of us catching up we were still getting left behind. That is the way I read all the posts. They were bragging in SkyscraperCity, Skyscraperpage and this site. Oh well. Hello One Beale and come on UP!
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I haven't heard anything official one way or another on Signature so we will just have to wait and see how the development pans out.

I would prefer we keep this thread on topic about One Beale, which is moving forward at this time, and really does not need to have its thread distracted by speculation around Sig. Thanks in advance.

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Well, the good thing about One Beale is that it seems to show developers that there is a demand for this type of development downtown. One article mentions all of the penthouses selling out, so that's a good sign. Plus, the stellar first week of sales is definitely helping. The good thing about One Beale is that both towers will be built as opposed to Horizon where we may only see one go up.

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I haven't heard anything official one way or another on Signature so we will just have to wait and see how the development pans out.

I would prefer we keep this thread on topic about One Beale, which is moving forward at this time, and really does not need to have its thread distracted by speculation around Sig. Thanks in advance.

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  • 2 weeks later...

Does anybody know, or care to speculate, on how the current crisis in the credit markets may impact One Beale?

The Wall Street Journal has an article today on how the credit crunch is affecting condos. I'm not sure I can link to the article since it's a subscription site, but here's the bottom line:

"The problems are emerging as some buyers who signed contracts to buy new condos two to three years ago, when construction was just starting, seek ways to back out as they encounter trouble getting financing in the suddenly dicey mortgage market. Falling prices are forcing appraisals down, so banks aren't willing to lend the full amounts that people committed to in the sales contract."

Perhaps One Beale is at less risk because it is an upscale project where many buyers can finance their purchase with cash? I hope Mr. Carlisle is not encountering financing difficulties on the construction side that will delay startup.

One Beale is going to be awesome I cant wait to see the crane go up and the steel rising into the sky!!!!! When is the ground breaking is that set? And i wonder how long it will take to construct? One Beale will def be the "signiture" tower for downtown memphis!
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Does anybody know, or care to speculate, on how the current crisis in the credit markets may impact One Beale?

The Wall Street Journal has an article today on how the credit crunch is affecting condos. I'm not sure I can link to the article since it's a subscription site, but here's the bottom line:

"The problems are emerging as some buyers who signed contracts to buy new condos two to three years ago, when construction was just starting, seek ways to back out as they encounter trouble getting financing in the suddenly dicey mortgage market. Falling prices are forcing appraisals down, so banks aren't willing to lend the full amounts that people committed to in the sales contract."

Perhaps One Beale is at less risk because it is an upscale project where many buyers can finance their purchase with cash? I hope Mr. Carlisle is not encountering financing difficulties on the construction side that will delay startup.

Phase I is scheduled for ground-breaking early in 2008, with completion in 2010. I'm not sure, but I think that's for the first tower only.

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