With ongoing cost of maintenance, not to mention liability insurance & security I can’t see where it would be a huge money maker. I’m sure it could turn a profit but eventually the land would become more valuable as well making selling it to a developer even smarter. I get if this project is dead you have to do something. I hope it is not dead but if so I think another developer would eventually step in. COVID will be controlled & thinks will change. It may be a slow recovery or a rocket ship, as pent up consumers are ready to get”back to normal”. Hell, the new BR hq building sat half finished & vacant for years until it was eventually developed
I'd say a residential building of the same height as the Hyatt House would do well here. The foundations are already in for a building of this height, so just repurpose the site.
Developers lender fell through, they got a default judgement against them, and developer is still working on finding alternative sources of funding now that the pandemic seems to have an end in sight. Said Brinkman (I believe) has taken equipment down, but willing to start up again once they get the green light. They say all the foundation/pierings have been done.
alejandro46 wrote: ↑Tue Dec 15, 2020 10:22 am
Developers lender fell through, they got a default judgement against them, and developer is still working on finding alternative sources of funding now that the pandemic seems to have an end in sight. Said Brinkman (I believe) has taken equipment down, but willing to start up again once they get the green light. They say all the foundation/pierings have been done.
Interesting. Thanks for the cliff note version. I thought for sure this project was done.
alejandro46 wrote: ↑Tue Dec 15, 2020 10:22 am
Developers lender fell through, they got a default judgement against them, and developer is still working on finding alternative sources of funding now that the pandemic seems to have an end in sight. Said Brinkman (I believe) has taken equipment down, but willing to start up again once they get the green light. They say all the foundation/pierings have been done.
Interesting. Thanks for the cliff note version. I thought for sure this project was done.
The article also mentions strong interest from Hyatt in seeing this get built
normalthings wrote: ↑Tue Dec 15, 2020 12:31 pm
The article also mentions strong interest from Hyatt in seeing this get built
If Hyatt is interested in seeing this get built, can they just back the cost of the construction? Or maybe the Pritzker family? Or does that set a precedent that hasn't been done before by a hotel corporation and their owners?
KCPowercat wrote: ↑Wed Dec 16, 2020 2:18 pm
Nevermind my earlier post. The tower crane is still up.
My contact at Brinkmann says the crane is scheduled to come down first week of January. However, he is also optimistic the project will happen. Go figure.
Last edited by Rabble on Fri Dec 18, 2020 11:01 pm, edited 1 time in total.
Rabble wrote: ↑Fri Dec 18, 2020 9:28 pm
My contact at Brinkmann says the crane is scheduled to come down first week of January. However, he is also optimistic the project will happen. Go figure.