One more thing, I think I said it before, but there's a part of me that almost wants the Capitol Club to be put on hold...when the markets stabilize, if this project hasn't broken ground already, I think it would go back up to 18-20 floors. I would almost rather wait another year or so and get a 20 story tower than a 12 story one this year.
I'm not sure you guys understand that projects put on hold (particularly privately-developed residentials ones) usually don't get revived. They just don't. Buyers don't wait around, forever; they eventually move on, and they don't deal with the same developers that can't get project off the ground. This is not even to mention that a proposed building costs money before it's even built. Right now, Drouare and Elliott are losing money on this project through marketing, taxes, etc...There are only a few options: build the project or continue to squat on the land at a loss hoping someone else will buy the land and/or project.
Yeah, Lansing is fairing pretty well in this recession, and I hope I never implied different. But, a lot of the big projects are going to die on the vine, not just whither, die.
I disagree given the times. Some may die, but others will get done. I think Capitol Club and Gillespie's projects will move forward with time, I also think either the Lenawee will be built, or another similar sized office building will. Kalamazoo Gateway is completely up in the air it seems, but judging from that list of stimulus projects the city has several more unannounced projects, and who knows how those will fair.
Gillespie has just put up a billboard for Ballpark North at the billboard at Shiawassee and Cedar advertising office, retail, and residential space. It has the rendering already released showing what Cedar and Shiawassee will look life if its completed.
Wow that's great news! I guess this means he is moving ahead to try and get some potential tenants lined up. If Ballpark North is dependent on Marketplace, then he must be pretty sure Marketplace will be starting construction soon.
Yeah, I was surprised to see it. He may just be testing the waters, but it's a good sign. The city market begins contruction in early April, if I remember correctly. No telling when Market Place comes along, though.
On this upcoming city council agenda, someone filed to transfer a liquor license from Okemos to the old Byblos building on Washington, the company's name is API East of Eden, they are also applying for a dance permit. I think it's great the bar district is filling in, hopefully the synergy continues.
Yeah, that's great to hear...I think a big step will be made when Troppos moves across the street and Tavern moves to the current Troppo location. I'm very hopeful that that will connect the Michigan Ave. and Wash Sq. entertainment districts...right now that "elbow" is dead and makes it less walkable from the 200block Wash Sq. bars to the Stadium District bars. The move will hopefully draw people further up Wash Sq., making the area more "alive" further up the street, and with people walking between the bars on WashSq., I think having bars on the WS/MA intersection will spill over to have people walking between that intersection down to the Stadium District. Hopefully this will make the first synergy between Stadium District and Washington Sq.
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Yeah, Lansing is fairing pretty well in this recession, and I hope I never implied different. But, a lot of the big projects are going to die on the vine, not just whither, die.
Also, I heard from someone with the state that the new chillers downtown will be 60' tall. That building looks almost as large as Stadium District.