Bank loans work on a case-by-case basis, depending on many factors. But with condo projects a certain number of pre-sold units is typically required and 50% is fairly common ballpark number. But they can require more or less depending on how much private money/equity is being put up, how well they think the project will go, and how much leased space is in the project among other things.
I like the new rendering although it seems a bit out of proportion, I can't wait to see other renderings of this project, especially some showing it in relation to the skyline. The guy at Studio Intrigue said the computer renderings will be made public "soon."
Yeah, I thought it was funny they used what must be know an 'older' rendering, which clearly has 18 floors, in the same story where they've said they've reduced it to 14 stories and under 200 feet. I wonder which four floors they took off, the higher priced upper levels or on the lower levels?
I'm betting this will still end up 18 floors anyway, maybe more. Like he said in the article, there are likely many people who don't want to commit until they see actual construction start. It sounds like even if they start construction only saying 14 floors, that the structure will be designed to handle more.
Didn't they originally say they were planning on 12 floors and then there was an article saying that because it was going so well they were jumping to 18 floors? Was that just BS trying to stir excitement, have things changed that drastically, or something else?
Also, is it just me, or does it look like with the newer rendering, that maybe Grooters coming on board played a big part in the updated design? I see alot of "inspiration" from the GR River House that's going up in GR. I don't have a trained eye, but the top and the curing in the Tower front seem very similar to GRRH.
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I like the new rendering although it seems a bit out of proportion, I can't wait to see other renderings of this project, especially some showing it in relation to the skyline. The guy at Studio Intrigue said the computer renderings will be made public "soon."
They are still planning to get started this year, with an early 2010 completion. I can't wait to see this project get started!!!
They didn't reveal that they'd taken off floors because they wanted to, let's just say that.
Also, is it just me, or does it look like with the newer rendering, that maybe Grooters coming on board played a big part in the updated design? I see alot of "inspiration" from the GR River House that's going up in GR. I don't have a trained eye, but the top and the curing in the Tower front seem very similar to GRRH.