Ally Charlotte Center (f/k/a Tryon Place) - 26 floors - 427'

[tunedmassdamper]

I would ask the same thing. I know all of the players in the Trump deal and not one of them has indictaed to me that trouble looms. They are tight lipped, but grin everytime the topic comes up. I also know the Infinity guys were in New York on Wednesday, so unless they were on Wall Street raising capital, I would assume they were meeting with TTO about Trump Charlotte.

[moving uptown]

I would ask the same thing. I know all of the players in the Trump deal and not one of them has indictaed to me that trouble looms. They are tight lipped, but grin everytime the topic comes up. I also know the Infinity guys were in New York on Wednesday, so unless they were on Wall Street raising capital, I would assume they were meeting with TTO about Trump Charlotte.

lets hope they werent on wall street trying to raise capital

[A2]

lets hope they werent on wall street trying to raise capital

Well as much "funny money" that the Central Banks have been printing Trump might be able to "take a number" and let ol' Benny cut him a check too. They have already "prinited" (infused) over $80B last week into the credit markets to bail out some banks, and funds! That is three times how much money they injected into the system after 9/11 just to keep the credit market from freezing up. Hell's fury is just starting to be unleashed on the credit markets which will stall ANY project not started by the end of the year. Even Trump uses OPM (other people's money) to develop his projects, so if money is tight(or expensive), projects don't get started, its that simple,

A2

Edited August 13, 2007 by A2

[A2]

Yea, but I think the Charlotte market really never got inflated like other markets did, and that is what is helping it stay strong (and grow!). I mean, look at how house prices just SKYROCKETED in areas like DC and the northeast, among other areas. Houses that were $150,000 in say 1995 were selling for close to $750,000 last year! And this was normal! Things were getting completely out of control, and the market is correcting itself in those areas. I really don't think the market in Charlotte even needed correrction, housing here is still dirt cheap when compared to other areas. I mean finding a 1-2 bedroom condo for $250,000 in a city center the size of Charlotte's is almost unheard of in many other parts of the country.

It is not all just about the pirce of a condo, but rather the supply and cost of money borrowed that determines how many projects can and do get built. Right now the Credit markets are staring into the dark abyss of endless pain. This will have DIRE consequenses on ALL markets, granted to a lesser extent where the excesses were not as great.

[Miguel]

Do we have any idea who would occupy Trumps office building? I recall somthing about a bank?

[brokenraven]

To get back to Trump, my thoughts are that the longer this takes, the more possibility it has for being shelved until another upcycle in housing emerges (which might not be until 2010-2011 time frame, at earliest).

A2

Wasn't it said that the towers would be completed around 2010-11 if announced? Perhaps they want to get in the market now so as to be ready for the next upcycle.

[28202]

If you look at the delivery dates for most of the tall buildings, 2009 plus is when they complete. We have trademark, avenue, the park short term delivering. Only some wood frame projects completing after that. The Garrison in '08 then one year until any others complete even if they make the proposed timelines. That is a big if since most have not started.

[tunedmassdamper]

I cannot imagine Crescent Resources allowing them to bank land beyond 24 months and I am sure the contract is written in this manner. They usually are.

[atlrvr]

Well it looks like everyone was right.....Trump withdrew his offer to buy the James McElroy and Diehl building at Stonewall and College after they couldn't renegotiate after it was appraised lower. It doesn't look like it's going to stop Trump from going ahead though. I think someone mentioned it would be plaza anyway, so to that, I'm glad the building stays.

[dxartist]

Well it looks like everyone was right.....Trump withdrew his offer to buy the James McElroy and Diehl building at Stonewall and College after they couldn't renogiate after it was appraised lower. It doesn't look like it's going to stop Trump from going ahead though. I think someone mentioned it would be plaza anyway, so to that, I'm glad the building stays.

so does that mean he will have to build around it?

[brokenraven]

Does this mean an announcement could be anytime soon?

Where do people find out about all of this stuff, anyway? I feel like I'm in the dark all the time...

[Miguel]

Does this mean an announcement could be anytime soon?

Where do people find out about all of this stuff, anyway? I feel like I'm in the dark all the time...

I hear ya.

Anyway, anyone care to give the average Joe where the Trump Project stands at this time?

[tiblerbrit]

It was in the Charlotte Business Journal today.

[Route]

And what did the CBJ say?

[Miguel]

And what did the CBJ say?

Basically Trump has no deal with Diehl that would give Trump 3.8 acres.

The "preliminary" plan is, as said on UP, a 70 story condo tower, and a 40 story office tower with a "retail center"

~ "Latest on Trump's plan for S. Tryon: No deal for Diehl"

August 17th 2007 Charlottebusinessjournal.com

Edited August 18, 2007 by Miguel

[tunedmassdamper]

It would have been 3.567 to be exact. The parcel is just under 22,000 square feet + that little bit of ancillary parking. And it has no bearing on the project other than the fact that it will be in Trump's shadow now.

[Raintree21]

I'm sure their property value will skyrocket even more once Trump's building is complete.

[dubone]

As long as the Trump project doesn't lose any building square footage, and as long as the loss of the land doesn't prevent the Trump project for happening, I am very happy that building stays. If it is going to be torn down anyway, then best as a separate project that will make the lot denser. But as the lawyers seem to want to stay, then it is great to keep that old building. It is pretty basic, but it is was built in 1926.

[Miguel]

So, is all the negotiating over and can we expect to see some renderings?

Edited August 18, 2007 by Miguel

[Norm2]

Rendering? what rendering? I wouldnt ask about renderings for quite a while.

[Charlotteman]

Heck I'm glad the lawyers building is staying. Wasn't it already mentioned that the land the building sits on was to be a plaza?

Another empty plaza......heck yeah I'm glad there will be a real building there.

[rockhilljames]

Here's the thing...rip off that crappy 80's glass atrium addition, sandblast the paint off the natural brick and restore the entrance with an older set of heavy wooden doors and BOOM, instant historic building.

Would look a lot better too.

[dubone]

Windows with grilles would also look more to its 1920s appearance.

I think everyone will be glad in the end that it stays, versus being torn down for a plaza. We don't really need yet another sidewalk marker about the building and look up and see something very uninteresting. We have enough plazas within a couple blocks of this project anyway, with plazas at both One and Two Wachovia, the planned plaza at the new Wachovia building, the planned plaza at the Nascar museum, and a few other spots that could arguably be called plazas.

It would be a very tear-downable building in most other cities, but people don't realize very strongly that we only have a handful of non-residential buildings left that prove downtown Charlotte really did exist 80 years ago (no one really believes that it existed 240 years ago, even though it did). The 'Charlotte' label really wasn't photoshopped into those old pictures. At this point, we need to save the ones that have survived, without exception.

[JerseyBoy]

I'm glad that the building is staying for all the reasons dubone mentioned. But, I can't help but wonder what might've been included in the plaza.

[brokenraven]

I think this building hardly looks historic. It's an unnatural color, and there's a glass atrium at the front. Saving this building simply because it's old doesn't make much sense if it looks like it was built in the 80s.