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SKYE Condominiums and Hyatt Place Hotel

monsoon

By monsoon
in Charlotte

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turbocraig Burg

turbocraig

Posted
Posted

NVQ, I admire your enthusiasm, but I feel like I need an "NVQ to English" dictionary to translate your run-on sentences sometimes. So, if I'm surmising correctly, a bank gave Pete some money so who is anyone to question (regardless of what was "officially" announced this year, last year, or in 2000)? Is that what all that was about? Not trying to be argumentative, just attempting to cut to the chase.

And, since you offered, tell us everything else you know... :ph34r:

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dubone Megalopolis

dubone

Posted
Posted

But also, it seems that unless they have negative sales somehow in the past two quarters, that they have more units available now than then.

I'm trying to understand what is going on. Are people being let out of their contracts? Was 80% not actually sold in Spring? Are there more units sold now than Dougie knows?

Because, in general, sales of only 5 within 16 months puts doubt in unbiased observers that this project is moving forward.

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Charlotte_native City

Charlotte_native

Posted
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The quick and easy is some people dropped, not surprisingly since they were holding 10% (i think that was how much they required) of the buyers money for the indefinite period of the past few years. Some moved on, some additional units were contracted. Nothing unusual for a project that drags. Developers don't like to release folks, but after a while they must if nothing else to prevent negative PR or lawsuits.

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  • 3 weeks later...
dubone Megalopolis

dubone

Posted
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To me it is so odd that they kept that same crayon rendering for so long during the sales, and are putting all this money into these [very cool] graphics only after construction has started and they only have a dozen or so to sell.

To be honest, the Park better be praying that the baseball-park-2nd \ward land swap goes into effect, as that will dramatically help them. All of the remaining units face the government center, which is not that attractive. But if the Park residents can look over a brand new budding neighborhood with interesting buildings, and a new and better designed park, then I believe it will help. It will also create momentum for 2nd Ward, as people will now want to live there. With 2nd ward filled with courthouse, jails, cheap motels, vast swaths of surface parking, and an ugly park full of goose poop, it is not really quite a place one would want to buy in. But they do have the hoola-hooping geese on Stonewall.

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AuLukey Town

AuLukey

Posted
Posted

Maybe the construction crew and graphic designers are same people. That certainly would explain it.

"Jim, we need you down here to help us with this rebar."

"Sorry, I can't right now... I'm trying to get the shading on this virtual tree just right...."

:rofl:

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AuLukey Town

AuLukey

Posted
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man ya just can't help but like that rendition of the Park at night. Sure gives Second Ward some dazzle!

Well, that's second ward pre-epicentre/TTT and the still unannounced, unnamed arena pencil tower which will probably both be finished by the time the Park even gets to the tenth floor.

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swh1972 Hamlet

swh1972

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Well, that's second ward pre-epicentre/TTT and the still unannounced, unnamed arena pencil tower which will probably both be finished by the time the Park even gets to the tenth floor.

I thought the Park was scheduled to be completed Fall of 2007 :unsure:

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monsoon Gigalopolis

monsoon

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Did anyone notice that they interviewed Verna in that parking garage article and he had this to say about the Park.

"...80 of the 21-story tower's 107 units are sold. Buyers are to start moving in by late 2007". :whistling:

If one goes back through this thread it sounds as if they have not sold anything in a long time.

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atlrvr Metropolitan Area

atlrvr

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I agree....they have an uphill battle to sell those remaining units. There are too many under contract still at really old pricing, that Verna has to charge unrealistic prices to make his numbers work. Also, almost no one has any faith left in this project to be delivered in a reasonable amount of time.....sure they've been playing around with the deck, but that (in my opinion) has been to contractually keep buyers from bailing.

However....I do honestly believe that we will begin to see significant progress before the end of the year......I realize that is an about face from my position 6 months ago, but Verna seems to be making sincere efforts to get this thing permitted, and the rumors are financing is in fact solidily in place, even without selling additional units.

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ElricSeven Hamlet

ElricSeven

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I agree....they have an uphill battle to sell those remaining units. There are too many under contract still at really old pricing, that Verna has to charge unrealistic prices to make his numbers work. Also, almost no one has any faith left in this project to be delivered in a reasonable amount of time.....sure they've been playing around with the deck, but that (in my opinion) has been to contractually keep buyers from bailing.

However....I do honestly believe that we will begin to see significant progress before the end of the year......I realize that is an about face from my position 6 months ago, but Verna seems to be making sincere efforts to get this thing permitted, and the rumors are financing is in fact solidily in place, even without selling additional units.

They've got a concrete pumping truck over there today. But, I'm still not a believer. When I see it going more vertical I'll change my mind.

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Charlotte_native City

Charlotte_native

Posted
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Also, almost no one has any faith left in this project to be delivered in a reasonable amount of time.....sure they've been playing around with the deck, but that (in my opinion) has been to contractually keep buyers from bailing.

I have been up close to this building recently when i was in the corner building attached to the deck. They are actually doing a lot of work to the foundation and substructure of the deck. They had dug all around the foundation, there was additional bracing and steel in place already, parts torn out of the ceilings of the various levels with new steel everywhere.

I think this part of the process is one where the average eye thinks nothing is happening because it is not as dramatic as adding new framing and concrete floor pads with obvious rising height. This isn't the sexy part of the project any more than other buildings in the "hole digging" process. From what I saw they had done an awful lot.

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dubone Megalopolis

dubone

Posted
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So the time line goes like this:

4/2005: 30 Condos left

5/2006: 21 Condos left (according to an advertisement)

8/2006: 25 Condos left

NVQ, please explain.

Okay, so 107-80 = 27

9/2006: 27 Condos left

Not only are they not selling, but they appear to be losing sales. Or changing their fibs in the wrong direction.

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Charlotte_native City

Charlotte_native

Posted
Posted

Okay, so 107-80 = 27

9/2006: 27 Condos left

Not only are they not selling, but they appear to be losing sales. Or changing their fibs in the wrong direction.

This isn't odd. I'm sure a lot of buyers have moved on. I know 2 that have. No one wants to wait this long, especially when they are hold so much of your cash. I don't think, however, that they will have trouble selling the rest once visible progress is made.

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CharlotteXgeneration Crossroads

CharlotteXgeneration

Posted
Posted

This isn't odd. I'm sure a lot of buyers have moved on. I know 2 that have. No one wants to wait this long, especially when they are hold so much of your cash. I don't think, however, that they will have trouble selling the rest once visible progress is made.

How did the 2 friends move on? I have a friend that wants out but The Park won't let him.....

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