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Belk Place: Carolina Theater and Hotel Intercontinental


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This is the up to date one

Got a better view for y'all from the 5th 3rd building 

Today 11:00 a.m.

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6 hours ago, TheOneRJ said:

COVID will likely be a thing of the past by the time the hotel is completed in the first place, so that really isn’t a justification for it not opening. It was never going to open, as I’ve said from the beginning. 

Don't you dare say I told you so in these forums!!!  There are many many people who know many many things who KNEW this hotel was getting built despite it taking three years to build a six story elevator shaft who just KNEW this project was a done deal, it was just complicated because reasons, and it's STILL complicated because EVEN MOAR reasons!

This website is fun for pics as an expat from the 704; otherwise, it's... just... reckless speculation.

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11 hours ago, Durhamite said:

anecdotally, it seems to have some order of magnitude of  influence on decision-makers and thought leaders....

Let me disabuse you (and a bunch of other posters of that notion) of that.

Say we need to build a high 8/low 9 figure project.  First, the C-suite needs to all get on the same page as to why and what our vision is.

Then, we take the idea - JUST THE IDEA - before the board to begin nothing but selecting architectural firms and to get permission on a budget for said firms just to get back to us with plans, on top of getting approval on a budgeted range for the project. 

Once we've got  the schematics in place, the architectural firms come back before the C-Suite and pitch us, and we either take our favorite back to the board, or, in some cases, we have all of the finalists pitch the board and then tell the board who we favor and why.

We may have the greenlight to proceed, but we still have to go to investment committee and have them formally liquidate assets to fund construction at given time intervals.  Then, we go to the finance committee to get approval on a cash flow schedule.  Then, the board is appraised at regular intervals of where we stand on construction, even if it's a routine five minute presentation at the regularly-scheduled meeting.  Even a whiff of cost overruns land us back before investment and finance and the board.

At no point does anybody say, you know what?  Some rando on a construction forum said our tower is (fill in the blank); we really need to, at great time and cost, get the architects re-engaged and jump through a bunch more hoops because somebody said something on the internet.

Even the notion that  the 2nd largest utility  gives a damn what gets said about its construction and design on this board is a horse race between narcissism and naivete, yet wander over to the Duke Tower thread and you'll see example after example of that.  Moreover, I've seen it suggested that Fortune 500 companies have reconsidered moving here based on what's posted on this board.  It's delusional. I have yet to see anything "leaked" that didn't come out same day as a press release in almost 20 years  of lurking/posting on this site, but I have seen a ton of "leaks" that turned out to be wrong, dead wrong, and impossibly, call-the-white-coats wrong.  What Quora/Reddit/Fark/UrbanPlanet think about anything has no bearing on the way business is actually condcuted 99.9% of the time, and in the instances it does,  show me, cuz I've yet to see one. This tower is no different, and anybody who's ever built ANYTHING approaching this price tag would have given it a <1% chance of actually happening, as others have.  Finally. if you have the money to build this tower, you build it. It's already built.  We've had a meet-up in the lobby and gotten drinks back in 2018 to celebrate.  It wasn't, it isn't, and it's not.

/rant

 

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On 10/4/2020 at 5:20 PM, KJHburg said:

walk bys today and progress since the last time I saw it a couple of weeks ago.  

Oh yeah that's hot:wub:

Glad to see more visible progress, here's to hoping more will get done by the end of the year.

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  • 2 weeks later...
On 10/13/2020 at 2:42 PM, CLT @❤️ said:

Construction workers on site today confirmed that this Project (the hotel portion) is going vertical. 

1st Qtr 2022 is around when the tower will pick back up. The project is leveraged toward an air right sale making it viable, a hotel will be built, just won't be this year or next.

Edited by The Real Clayton
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I might be wrong, but I think a fundamental misconception on this project is they "stopped" building the tower.  I believe what was built was the elevator core for the theatre and FOTC office space.  The hotel would "begin" after buildable air rights are delivered.

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