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SKYE Condominiums and Hyatt Place Hotel

monsoon

By monsoon
in Charlotte

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dubone Megalopolis

dubone

Posted
Posted

In my mind, Verna should let some of the people go. That way he can resell at current price points and get the average sales price up. He seems to be trying to cover that with high prices on units that face the government center.

But if he can let skyline-side buyers go, he can likely resell those at a better price.

With the percentage he has left, it should be enough to just build the dang thing already. But I think the proceeds from the older sales just aren't enough to give them enough.

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Charlotte_native City

Charlotte_native

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

Threaten a suit or bad press...it isn't all that hard, plus this project needs as much GOOD press as it can get. They didn't go to court, but if it would have had a hearing it isn't too hard to convince a mediator that a project that is YEARS off schedule that is holding your money should allow someone to get out.

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A2 Town

A2

Posted
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Talked to someone yesterday about when the view will rise, and got a good answer. By the end of September, they want to be going up with the steel. Great news if its true. He said this time its a definite, but who knows. Good luck pete

UC, I have not forgot about this qoute. They are running out of time since it is now late September. Any ideas if this will be delayed again ??? (this time possibly till 2013-2014 time frame :P .)

A2

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graydog Hamlet

graydog

Posted
Posted

They also put about 12 units on the market this week. 32 are in the MLS. (From 27 in 9/06 and 30 in 4/05 mentioned above). Seems like the hill is getting steeper. I wonder if it's because people don't want to pay $475/SF to live next to the govt. ctr. and the bus depot.

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graydog Hamlet

graydog

Posted
Posted

They also put about 12 units on the market this week. 32 are in the MLS. (From 27 in 9/06 and 30 in 4/05 mentioned above). Seems like the hill is getting steeper. I wonder if it's because people don't want to pay $475/SF to live next to the govt. ctr. and the bus depot.

And now there are 34 in MLS.

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Charlotte_native City

Charlotte_native

Posted
Posted

That is actually very sad.

I would hope that he starts going vertical soon. Once he has added a few floors, I think there will be buyers. But until then, it is a skeptic-fest.

34 is a lot considering how well this sold at first, but if construction takes over a year, which it will, there are plenty of months to get people signed up. It appears they will build without these pre-sales, so I would imagine that more buyers will line up as they see progress.

Nothing hurts a project more than getting a huge buzz at the beginning, then becoming old news. I think that is why sales are terribly slow for them now, people tend to line up when something new and exciting gets put out there. They also seem to come back around once there is a "visual" of progress to get them thinking about the project again.

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  • 2 weeks later...
Charlotteman Burg

Charlotteman

Posted
Posted

I think it would be a damn shame if the Park is scuttled.

I like the conceptual drawing a lot, and imagine the views the west facing homeowners would have! It would also add some density to poor ol' laggard Second Ward, and hopefully spur more developments there.

But all these delays sure wouldn't spur me into buying there, if I was looking for a home Uptown.

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atlrvr Metropolitan Area

atlrvr

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The Park got it's Backflow Prevention permit today, but failed at the Fire permit. I can't really gauge how serious the Fire permit errors are, as some details were approved, but the reviewer notes, indicated that no corrections had been made....none the less, this thing is hobbling towards approval, as the errors seem relatively easy to correct.

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A2 Town

A2

Posted
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The Park got it's Backflow Prevention permit today, but failed at the Fire permit. I can't really gauge how serious the Fire permit errors are, as some details were approved, but the reviewer notes, indicated that no corrections had been made....none the less, this thing is hobbling towards approval, as the errors seem relatively easy to correct.

key word "hobbling".

A2

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uptownliving Town

uptownliving

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Does anyone think that The Park has intentionally bumbled through permiting? That thought crossed my mind in going over their building permits. The types of problems they have had as atlrvr stated are rather simple. This project has been in the permits review stage for over a year now...which I think might be a county record. If the developers are intentionally using the permits process as a way to delay things...then I could not offer up a good reason why they would want to do that. Maybe someone with more of a real estate/ development background would be able to answer that.

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atlrvr Metropolitan Area

atlrvr

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The thought crossed my mind, but they have to pay by the hour for each review, so there is no logical reason to submit faulty plans, but who knows. Still, as long as they keep submitting (and paying) I have to assume Verna has intent to get this thing built.

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