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Old May 23rd, 2005, 02:09 AM   #1
geoff_diamond
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50 East Chestnut - 495'/40 fl (Com)

Height: 495 ft
Floor count: 40
Location: East Chestnut and North Rush
Construction end: 2007
Architect: Solomon, Cordwell, Buenz and Associates
Developer: Jameson Realty Group


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I was in the sales center today and he told me that they had sold 10 of the units (a surprisingly low figure given that they've been open for a year) - but, the building's only supposed to contain something on the order of 30 units total (one per floor). I was also told that construction was slated to begin in July (I won't hold my breath). Anyway, here's the rendering and some sales center/model shots.

Last edited by i_am_hydrogen; September 27th, 2007 at 12:15 AM. Reason: Added project info.
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Old May 23rd, 2005, 03:31 AM   #2
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Oh god, for a second I thought that second picture was a rendering of the base- Bensenville chic!

But yeah, it looks like a worthy addition and more wood to the fire.
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Old May 23rd, 2005, 03:59 AM   #3
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That's disturbing.

It's been on the market for a while, and they've only sold less than 1/3rd? Not too confident about this one.

I think they're shooting for too high of a luxury market. Sure each residence is a whole floor, but that shit is WAY expensive
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Old May 23rd, 2005, 04:05 AM   #4
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Quote:
Oh god, for a second I thought that second picture was a rendering of the base- Bensenville chic!
ahahahah!!! That's awesome!

As far as the project goes... I think you may be right TUP. Each residence is like 4000 square feet at between $2 and $4M. Trying to add 30 condos averaging $3M each when there's already so much other stuff going up in the ultra-luxury market might be a bit much right now. I really do hope it gets built though, I rather like the building.
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Old May 23rd, 2005, 05:32 AM   #5
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Quote:
Originally Posted by The Urban Politician
That's disturbing.

It's been on the market for a while, and they've only sold less than 1/3rd? Not too confident about this one.

I think they're shooting for too high of a luxury market. Sure each residence is a whole floor, but that shit is WAY expensive
I agree, I do have my reservations about this one, but then again the Grand-Orleans was announced like 5 years ago according to Emporis, and it finally got off of the ground. BUt i'm putting my energy behind Waterview Tower. That's my baby.
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Old May 23rd, 2005, 05:46 AM   #6
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Quote:
Originally Posted by BVictor1
I agree, I do have my reservations about this one, but then again the Grand-Orleans was announced like 5 years ago according to Emporis, and it finally got off of the ground. BUt i'm putting my energy behind Waterview Tower. That's my baby.
^Good point. I guess it can't hurt to just give a development like 50 E. Erie another year. Besides, Jameson Realty is a pretty good company and certainly could manage...
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Old May 23rd, 2005, 07:59 AM   #7
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Originally Posted by The Urban Politician
^Good point. I guess it can't hurt to just give a development like 50 E. Erie another year. Besides, Jameson Realty is a pretty good company and certainly could manage...
Yeah, and it's 50 East Chestnut. Were you thinking of 30 West Erie, which is also a Jameson project? That development seems to be having the same issues, I'm certainly not going to hold my breath.
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Old May 23rd, 2005, 05:56 PM   #8
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Didn't you see my thread about 30 W. Erie? They've already started construction
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Old May 23rd, 2005, 06:15 PM   #9
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^I'm confused..

I thought you posted that at the 30 W. Oak site.

Which one started construction--30 W. Oak or 30 W. Erie?
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Old May 23rd, 2005, 06:22 PM   #10
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Quote:
Originally Posted by BVictor1
Yeah, and it's 50 East Chestnut. Were you thinking of 30 West Erie, which is also a Jameson project? That development seems to be having the same issues, I'm certainly not going to hold my breath.

^No, I actually meant 50 E. Chestnut.

As far as 30 W. Erie, who the **** knows? That development seems to be just suspended in time.

I really want 50 E. Chestnut, The Elysian, and that Smithfield Development (replacing the Scholl's school) to be built.

But what I really care about is 4th Presbyterian. That parking lot behind the Cathedral has always annoyed me--hell, build a plaza there, a 4 story-brick building, or even a retail center--I just HATE seeing parking lots downtown
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Old May 24th, 2005, 01:12 AM   #11
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Woops, I meant 30 W. Oak... I didn't even know there was a project slated for 30 W. Erie? And TUP - 30 W. Oak is the project that's replacing the Scholl's building - which is now under construction.

Sorry for the confusion
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Old May 26th, 2005, 05:03 AM   #12
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that's a very nice design!
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Old July 31st, 2005, 10:38 PM   #13
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Any new info on this one?
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Old August 2nd, 2005, 07:42 AM   #14
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I wouldn't hold my breath. Last time I was in the sales center (a month or two ago) they had only sold 10 units - not a great number having been open for more than a year.
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Old August 2nd, 2005, 06:41 PM   #15
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Quite sad. Oh well.
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Old August 2nd, 2005, 09:55 PM   #16
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That's too bad.

But this development was never too exciting anyhow. Too super-rich, if you ask me. Instead of 1 unit for floor, they should have marketed it as 2-3 units per floor. More people, better prices, more sales
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Old August 2nd, 2005, 11:33 PM   #17
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Maybe its a blessing in disguise... The units in this building are in the price range of units in the Fordham Spire. The disappearance of this proposal will mean less competition for Fordham, and thus more chance that it gets built.
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Old August 3rd, 2005, 09:03 AM   #18
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Seeing as how only ten people had signed on for 50 E. Chestnut... it's not making a huge deposit back into the market
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Old August 4th, 2005, 04:55 AM   #19
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Geoff, true, but we might also include all the people potentially in the $1.5 million + market in the next year who might have considered this property given its great location but may now found themselves attracted most by the Spire.
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Old August 17th, 2005, 04:46 PM   #20
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It looks like construction is about to start! The sales center is getting ready for demoltion. Shit its about time.
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