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SKYE Condominiums and Hyatt Place Hotel

monsoon

By monsoon
in Charlotte

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dxartist Hamlet

dxartist

Posted
Posted

The Park website has been updated stating that upfittin of the garage will start next month in September and that the tower itself will start construction in December.  Yet, it still says that there are 30 units to be rereleased in September.

<{POST_SNAPBACK}>

Until you see some cranes, don't hold your breath

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A2 Town

A2

Posted
Posted

Here is the e-mail I received from the realtor (It looks promising, but as many have said before looks can be deceiving);

The first 75 condos have been sold and the remaining 32 condos and their pricing will be released when construction begins, likely in September and complete in approx 20 months from that date... With pricing likely to be in the 300s to 700s, depending on size and location within the building.

(this was just a snipit. I did not want to include the whole e-mail as it was a person to person e-mail and I did not want to exploit the guys words in sending it across the web :) )

A2

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dubone Megalopolis

dubone

Posted
Posted

with that percentage already sold, why does he seem to be having trouble with financing?

it does make sense in a way to save the remainder until the project is under construction, as he may feel he can command a better price when people see it is actually happening... but still, wolf has been cried quite often on this project.

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  • 3 weeks later...
Dale City

Dale

Posted
Posted

Website has been updated with Sepetember 2005 being the beginning of contruction with upfit above the parking deck being December 2005.

New heads up will be given when project is delayed again.

<{POST_SNAPBACK}>

This project would make anyone a cynical beotch, eh ? ;)

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ElricSeven Hamlet

ElricSeven

Posted
Posted

I'd like to know what they are telling people who put their deposit down years ago.

<{POST_SNAPBACK}>

They're probably stuck in a catch 22. The potential for a pretty big windfall if it does get built, but the loss of liquidity and potential earnings on the down payment if it doesn't.

Recall that they bought in at the $200 per square foot level, and uber-luxe places are going for $400 per square foot these days.

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SmellyCat Burg

SmellyCat

Posted
Posted

They're probably stuck in a catch 22.  The potential for a pretty big windfall if it does get built, but the loss of liquidity and potential earnings on the down payment if it doesn't.

Recall that they bought in at the $200 per square foot level, and uber-luxe places are going for $400 per square foot these days.

<{POST_SNAPBACK}>

How can the developer make a profit at those prices? I'm guessing concrete and steel prices have gone up substantially since deposits were intially made.

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swh1972 Hamlet

swh1972

Posted
Posted

My understanding is that they are getting close to the time where progress needs to be made on the Park or individuals can start asking for their deposits back.

Also, heard through the grapevine that Verna has conceded he needs to partner up with another developer to get this moving forward.

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f0xym0p Hamlet

f0xym0p

Posted
Posted

My understanding is that they are getting close to the time where progress needs to be made on the Park or individuals can start asking for their deposits back. 

Also, heard through the grapevine that Verna has conceded he needs to partner up with another developer to get this moving forward.

<{POST_SNAPBACK}>

When we made a deposit for our condo (not at the park), our contract stated that if they hadn't started in a year then our contract would be void and we would get our money back. I would assume there was some clause like that in this situation.

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A2 Town

A2

Posted
Posted

Huge ad about the Park in the CBJ today. I really think these guys are going to pull this thing off. This is the largest advertisement I have seen in the last year on the project. According to Helen Adams Phase one is completely sold out and Phase two sales have begun. How many times have we heard this kind of stuff before though??? ;)

A2

(Here's to Verna :alc: . I hope something finally works out for the poor guy)

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SmellyCat Burg

SmellyCat

Posted
Posted

Huge article about the Park in the CBJ today. I really think these guys are going to pull this thing off. This is the largest advertisement I have seen in the last year on the project. According to Helen Adams Phase one is completely sold out and Phase two sales have begun. How many times have we heard this kind of stuff before though??? ;)

A2

(Here's to Verna  :alc: . I hope something finally works out for the poor guy)

<{POST_SNAPBACK}>

I think this place is a figment of our collective imaginations. I have yet to meet a person who reserved a unit in the Park or knows of one who did or who even took a look at it.

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A2 Town

A2

Posted
Posted

According to Doug Smith's article the Park is to Begin Construction this month.

Developer Pete Verna said he expects to start work this month on The Park, 21 stories.

http://www.charlotte.com/mld/charlotte/bus...th/12577641.htm

I guess this will be the last post I make about this project. I hope that it happens, but this project has had more begining construction dates than anything I have ever seen. The jury is still out and Pete has 23 days left to make a believer of me.

A2

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ElricSeven Hamlet

ElricSeven

Posted
Posted

According to Doug Smith's article the Park is to Begin Construction this month.

Developer Pete Verna said he expects to start work this month on The Park, 21 stories.

http://www.charlotte.com/mld/charlotte/bus...th/12577641.htm

I guess this will be the last post I make about this project. I hope that it happens, but this project has had more begining construction dates than anything I have ever seen. The jury is still out and Pete has 23 days left to make a believer of me.

A2

<{POST_SNAPBACK}>

As I said about 18 months ago, stick a fork in the Park. It is finished. Someone should contact the ITC or something to complain about false advertising.

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A2 Town

A2

Posted
Posted

Pete and Dan Levine should go into biz together.

<{POST_SNAPBACK}>

What a partnership we would have MC. They would be the first tag-team duo for breaking world records for the amount of time it takes a project to get off the ground.

I have never seen such a horrid example of resources, time, and energy wasted than these two knuckle heads have had the opportunity to show forth.

A2

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Mobuchu Burg

Mobuchu

Posted
Posted

What a partnership we would have MC. They would be the first tag-team duo for breaking world records for the amount of time it takes a project to get off the ground.

I have never seen such a horrid example of resources, time, and energy wasted than these two knuckle heads have had the opportunity to show forth.

A2

<{POST_SNAPBACK}>

Can you say DeeDee......

I know you didn't forget her, or maybe she is in her own catagory.

Anyway, again, I cant believe we're still talking about The Park.

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